Eight out of ten Romanians have money prepared for Black Friday, study finds

Eight out of ten Romanians have money prepared for Black Friday purchases, according to a study by digital bank app Revolut. However, promotional periods also make bargain hunters vulnerable to frauds.

At least 53% of Romanians state that they have a Black Friday shopping strategy, and most of them, 23%, have set aside between RON 1,000 and 2,500 (EUR 200-500) for their purchases on this occasion, according to a study by Revolut and Dynata conducted in September 2023.

Eight out of ten Romanians intend to take advantage of Black Friday promotions, just like last year. Only 9% of respondents are firmly against making purchases on this occasion.

Half of Romanians plan to make Black Friday purchases and have a shopping strategy, reducing the risk of returning purchased items. Nearly two-thirds of them (69%) say they exclusively buy practical items. 11% state that they take advantage of Black Friday campaigns for small indulgences, while 7% prepare their Christmas gifts, hoping to save some money that way.

While one in 10 Romanians says they don't shop at all on Black Friday, 4 out of 10 (39%) are willing to wake up early just to catch the deals they've been eyeing for a while. 43% sacrifice their personal time and stay glued to their laptops only for offers with significant discounts, while 5% are interested in Black Friday promotions to make a good deal by reselling heavily discounted products.

Women are less interested in Black Friday than men (10% vs. 5% of respondents who say they won't buy anything on this occasion). The same goes for seniors over 65 years old (11%) and residents of the central part of the country (11%).

Men set aside between RON 1,000 and 2,500 for Black Friday shopping, while women allocate between RON 250 and 500 (EUR 50-100). The age groups of 18-24 years (26%) and 44-54 years set aside between RON 250-500, respondents between 25-44 years (26%) and those over 55 years (23%) tend to allocate RON 1,000-2,500.

Bucharest residents prepare the most generous budgets, over RON 2,500 (19%), while Romanians from the western part of the country are the most restrained in spending on Black Friday (13% less than RON 250).

Last year, on Black Friday, customers in Romania made purchases of nearly EUR 44 million with Revolut (November 11-13, 2022), and the average amount spent by a Romanian user was approximately EUR 84. The age group with the highest Black Friday purchase value was 25-34 years, with over EUR 16.7 million. The highest average purchase value per user was recorded in the 35-44 age group (EUR 103 per customer).

The top 5 merchants, based on payment volumes with Revolut, included Emag, Altex, Carrefour, Tazz, and Dedeman.