Black Friday Fever Sweeps Southeast Asia: Shopping Trends and Habits

Black Friday has become a global phenomenon, and Southeast Asia is no exception. Milieu Insight conducted a comprehensive regional survey spanning Singapore, Vietnam, Philippines, Indonesia, Malaysia, and Thailand, unveiling insightful patterns in shopping habits during this retail spectacle.

Southeast Asians wait for Black Friday to fulfil their wish lists

8 in 10 Southeast Asians plan to exercise patience, strategically waiting for Black Friday to fulfil their wish lists for the year. 63% across the region are willing to wait specifically for Black Friday to make higher-priced purchases, highest in Vietnam at 76%.

e-Wallets emerge as the most preferred payment method among 5 in 10 Southeast Asians

When it comes to payment preferences, e-Wallets emerge as the predominant payment choice, especially among Indonesians (65%), Malaysians (58%), and Thais (58%) reflecting a growing trend in digital transactions. Nevertheless, specific regional preferences vary - In Singapore, credit cards take the lead (71%), while in the Philippines, cash prevails as the top choice (72%).

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7 in 10 Southeast Asians prefer online shopping on Black Friday

72% in the region prefer online shopping during Black Friday, showcasing a preference for the convenience and accessibility offered by digital platforms. Indonesia takes the lead with a whopping 94% favouring online shopping while Singapore follows closely behind at 81%, stressing the importance of e-commerce in the region.

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Cashback/rebates driving purchase decisions across Southeast Asia

Key motivators driving purchase decisions include cashback/rebates (63%), early access deals (30%), and flash sales (53%). These factors underscore the evolving needs of Southeast Asian shoppers, who seek not only discounts but also additional perks that enhance their overall shopping experience.

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Fashion, electronic gadgets, and personal care top the shopping list

Fashion (65%), electronic gadgets (56%), and personal care products (56%) top the shopping list. This reveals the diverse interests and priorities of Southeast Asian consumers during Black Friday, ranging from personal style to the latest tech gadgets and self-care products.

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Social media and shopping/cashback apps favoured for deal-hunting

When it comes to staying informed on Black Friday deals before the big day comes, social media (69%) and shopping/cashback apps (54%) play a pivotal role in keeping consumers informed about Black Friday deals. This reflects the profound influence of digital channels in shaping consumer behaviour and driving awareness during this shopping bonanza.

These insights provide a roadmap for businesses looking to navigate the Black Friday landscape in the region, ensuring alignment with the preferences and expectations of Southeast Asian consumers during this annual shopping extravaganza.

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Methodology

This quantitative study was conducted via Milieu Insight's proprietary survey community with N=500 each in Singapore, Thailand, Indonesia, Malaysia, Vietnam, and the Philippines (N=3,000 overall) The data is representative of the online adult population aged 16 and above. Fieldwork was conducted in November 2023.