Promotion days such as Black Friday or Cyber Monday are increasingly being used to hunt for bargains.
Every year, the market research institute GfK examines the current payment trends in Germany on behalf of Mastercard. What is particularly noticeable in the current survey is the growing influence of shopping promotion days such as Singles’ Day, Black Friday and Cyber Monday.
According to the study, these days are becoming increasingly relevant and are increasingly attracting German consumers to online shops. The opportunity to get special offers and discounts on promotional days that have already been widely announced in advance, such as Black Friday and the like, is increasingly driving consumers to shop online.
Despite the increased cost of living for food and energy, more than three quarters of the Germans surveyed (77 percent) said they shop at least as much online as they did last year. 19 percent are even shopping online more. Around a quarter (23 percent) are currently spending less in online shops. Surprisingly, according to the study,
women and singles in particular are among those willing to save.
The hunt for bargains is currently booming in Germany, as the current study by the market research institute Gfk on behalf of Mastercard shows. The three shopping promotion days that take place in November: Singles’ Day (November 11th), Black Friday (November 24th) and Cyber Monday (November 27th) are particularly in the focus of German consumers, one in two of whom plan to take advantage of the offers to benefit. The group of 18 to 29 year olds is particularly interested in these theme days, two thirds of whom even intend to go bargain hunting on the promotional days.
But Germans are not only looking for savings offers on these special shopping days. Regardless of the theme days, one in two (49 percent) of those surveyed said they regularly compare prices in order to save money. Another trend can be seen in participation in bonus and loyalty programs: around one in four (26 percent) takes part in such programs, which are particularly popular among the 40 to 49 year old age group (37 percent).
However, for many online shoppers, satisfaction with the shopping experience often depends on the payment options offered. According to the survey, 43 percent of those surveyed are annoyed if their preferred payment method is not offered in the online shop. Especially shopping as a guest on an e-commerce platform is perceived as cumbersome by many consumers. A central point of criticism is the need to re-enter the payment details and delivery address with each order. According to GfK, 36 percent of Germans find this procedure annoying.
The study participants are particularly critical of the need to provide a lot of personal information when making online payments. 36 percent express concerns about the amount of data requested. This sensitivity to data protection and privacy is also reflected in the fact that almost one in four (23 percent) have already canceled the payment process because he or she did not want to reveal sensitive card data.
About the study
On behalf of Mastercard this has Market research institute GfK surveyed a total of 1,001 people between the ages of 18 and 74 online. The representative survey was carried out between August 17 and 21, 2023.
2023-11-10 13:14:02
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