According to the research, searches for products increased by 13% in the first half of this year
62% of Brazilian consumers intend to take advantage of Black Friday this year and 70% of them are highly likely to actually make purchases. At least that is what Google’s new study for the date indicates, presented this Wednesday (11) during an event held in São Paulo.
In comparative terms, 66% of consumers surveyed in July 2023 had stated that they intended to buy on Black Friday, but only 54% actually bought and 40% bought less than expected.
According to the data, the optimism driven by the positive macroeconomic scenario, unemployment and falling interest rates, 67% of those interviewed believe that their financial capacity to make purchases will improve or equalize by the end of the year.
Furthermore, the survey showed that 48% of Brazilians say that the biggest benefit of the Black Friday period is being able to buy routine products at a lower price and 38% take advantage of the date to buy products that they could have if it weren’t for the discount.
For 34% of respondents, this date is the best time to buy in advance what they were already planning to acquire in the future.
Regarding searches, Google pointed out that queries for product categories increased by 13% in the first half of 2024, when compared to the same period in 2023.
When analyzing consumer intentions by category, the survey indicated that, although consumers continue to desire the same categories as last year – electronics (76%), fashion (59%), beauty and personal care (44%) and home products (41%) –, consumer interest goes beyond retail, with 72% of Brazilians stating that they would like to take advantage of some type of travel offer; 56% would like to take advantage of course offers and 43% would like to have some type of offer for non-prescription medications, such as supplements and vitamins.
“We have been following the growing adoption of Black Friday by other industries, which are taking advantage of the calendar to offer products and services at a time when consumers are already engaged in shopping. In 2024, we believe that this movement will be consolidated,” said Gleidys Salvanha, general director of business for Retail and Technology at Google Brazil.
Beyond prices
Despite being a date known for discounts, the research presented by Google showed that companies will have to deliver more than good prices to convert intentions into purchases.
According to the study, attributes related to product quality and reliability of the store, website or app are priorities for Brazilians, in addition to shipping costs. In addition, the survey also showed that 69% of Brazilians would like to see partnerships between brands and stores.
“There is an opportunity to work on experimentation: it is possible to launch products during Black Friday, work on loyalty or strategies to generate more valuable carts”, added Gleidys.
