Shopping intention on Black Friday in Spain by product 2024
No other day in the year represents the set phrase “shopping spree” better than Black Friday. Originated in the United States, the popularity of the Friday after Thanksgiving Day has skyrocketed in the world over the past years, and Spain is no exception to this global trend. According to the latest surveys, about 65 percent of the Spaniards that were intending to take part in this shopping event in 2024 were interested in buying fashion products. In the fashion industry, Inditex was by far the largest fashion company by revenue in Spain in 2023.
Black Friday in Europe
With only a few exceptions, the participation rate on Black Friday only increased across Europe between 2017 and 2018, with Romania topping the list with about 71 percent of consumers that took part in 2018. Ukraine is, in contrast, the European country that least participated in this shopping event at slightly over 30 percent of consumers, although this figure represents quite a leap from a shy 18.6 percent registered the previous year. In terms of discount rates, the list is led by the United Kingdom, with an average discount rate of 63 percent off all products for sale in 2018. That same year, Spain featured an average discount rate of 47 percent.
The importance of Black Friday in the fashion industry
Black Friday has become an extremely important event for the world’s leading retailers. In Spain, for instance, the sales of fashion and luxury items on Black Friday is over 400 percent higher than any other day of the year, representing one of the highest percentage changes across Europe. Generally speaking, the fashion industry has experienced a gradual increase in the number of online shoppers over the last few years, reaching 13.5 million online shoppers in 2022 as opposed to only 5.5 million in 2014.
