The Black Friday 2023 edition will bring spectacular results, with a 30% increase in online sales this year compared to last year, according to the estimates of Happy Advertising, one of the main digital marketing agencies in Romania. It is also estimated to increase the average shopping basket by up to 50% compared to a period without promotions.
Thus, many of the online stores manage, like on Black Friday or during the entire period of promotions, to register total sales in 1-2 normal months.
“We believe that the Black Friday 2023 edition will be a spectacular one, with much better results than last year, given that many online stores have already started discount campaigns. In fact, Romanian consumers keep their budgets for Black Friday promotions, and this year the discount campaigns take place over a much longer period, over a month, we estimate a 30% increase in sales in the Black Friday campaign from from last year. We expect that this year Black Friday will be a real success for businesses that knew how to negotiate prices with suppliers so that the price promotion for the final customer is a considerable one”, explains Alex Filoti, founder of Happy Advertising.
The most purchases are expected for the categories vacations, fashion, electronics, household appliances, IT, furniture and decorations, for which the online stores have prepared the largest stocks of products. An increase in the value of the average order is estimated by up to 5%, according to calculations by Happy Advertising, with the 2023 edition of Black Friday being a special focus on food products and services.
“From year to year, more and more companies enter the Black Friday discount season, therefore we see promotions and advertisements not only for classic products, such as televisions and mobile phones, but also for food products and a wide range of services. Also, in recent years, users are increasingly paying attention to how product prices evolve, and that’s why online stores are making efforts to be as transparent as possible with this aspect. Compared to last year, we observe an increase in consumer appetite to make online purchases and an increasing adoption of online commerce among the Romanian population. At the same time, users have an increasingly wide range of products and services to choose from because the market is constantly developing, in Romania now there are over 117,000 online stores”, points out Florin Pețu, Managing Partner of Happy Advertising.
At the same time, to support the increase in sales, online stores have allocated budgets for the promotion of Black Friday offers up to 10 times higher than last year, on average between 10,000 and 100,000 euros. The biggest budgets are allocated to performance campaigns (Google Ads, Meta Ads, TikTok Ads). In addition to increasing sales, online stores also invest in promotion to increase their customer base which they can then tap into with other products and promotions.
