In End-of-Year Sales, 1 in 5 Filipinos Want a Discount of 90 Percent Before They Buy
Black Friday—or the Friday after Thanksgiving—is the sale of the year for many Americans. But here in the Philippines, 11-11, or November 11, is where it’s at. In a survey of 2,015 Filipinos released by Finder.com, about 55 percent of respondents said they intend to buy something during the end of year sale—but only if the items are discounted enough. That translates to just under 40 million people who will shop during the sale, if the price is right.
But just how much do the price of the items need to drop so buyers can loosen their purse strings?
According to Finder.com’s End-of-Year Shopping Report, Filipino adults need an average discount of just over half price—or 53 percent—before they add to cart and hit buy.
Twenty percent—or one in five Filipinos—say they’ll only buy if the discount is down to 90 percent. On the other hand, only one in 10 say they could be enticed by a discount as small as five percent.
However, 45 percent of those surveyed said no discount will ever make them shop during the end-of-year sales.
Those in the 35-to-44 age bracket are the most likely to shop the sales, with 62% saying they’ll be enticed to shop if the price is right. Meanwhile 18-to-24-year-olds are least likely to take part, with just 48 percent saying any type of discount could catch their eye.
Moving to gender, women are more likely than men to be enticed to shop because of a significant discount, with 58 percent of women saying they’ll shop if the discount is big enough compared to 53 percent of men.
“We’re entering the biggest shopping season of the year, with some of the most popular sales events right around the corner including 11.11, Black Friday, and Cyber Monday,” Finder.com’s consumer advocate Susannah Binsted says. “If you have your eye on a certain product you might want to wait to see if it’s discounted during the sales season.
“More than half of Filipino adults admit they could be enticed to shop the sales if the price is right,” she added. “To avoid making unnecessary purchases, plan your shopping list in advance and have an idea of what you’re in the market for before the sales even hit. You can also ask yourself in the moment if it’s something you’d be willing to pay full price for. If the answer is yes then your discount will be all the more enjoyable.”