International shopping craze Black Friday seems to be rapidly gaining popularity in Hungary, with around 90% of the population aware of its existence, according to a press release sent to the Budapest Business Journal.
Research by Black Friday Global reveals that almost half of Hungarians are planning to participate in Black Fridayʼs shopping events, up from 44% last year.
Slightly more than 54% of those who participate in Black Friday aim to shop both online and in traditional stores, compared to 28% last year. This trend points towards a move away from shopping exclusively online (55% in 2017, 42% this year), or in traditional stores (16.5% in 2017, 4% this year).
Hungary is in second place among 55 investigated countries, behind only Pakistan in terms of sales growth on Black Friday compared to a regular Friday. Sales are 9,750% higher in Hungary on Black Friday, the research says. On average, Hungarians spend HUF 47,380 on Black Friday, with fashion, electronics and shoes topping the list of the most sought-after products.
The average discount rate on Black Friday in Hungary is 55%, with an average Hungarian saving HUF 57,909 during a shopping trip.
The full survey can be found here.