In August, Mohnish Pabrai took part in Brown University's Value Investing Speaker Series, answering a series of questions from students. Q3 2021 hedge fund letters, conferences and more One of the topics he covered was the issue of finding cheap equities, a process the value investor has plenty of experience with. Cheap Stocks In the Read More
Ahead of Black Friday on the 26th November, the payment experts analyzed Google search data for over 1,000 of the world’s best known companies to discover which brands consumers are searching for the most in relation to Black Friday across the world.
These Are The Top 20 Brands Globally With The Most In Demand Black Friday Deals
|Rank||Brand||Industry||Global monthly Search Volume for the Brand Name only||Global monthly Search Volume for
"*Brand* Black Friday"
|6||Home Depot||Home improvement||68,000,000||90,500|
The same 1,000+ brands were also analysed looking at global search volumes over the world. Overall, the retail giant Target was the most searched for brand with a staggering 5 million searches a month for “Target Black Friday”. Every year Target offers customers huge savings on gaming, electronics, clothing and more!
With over 9 times fewer searches, multinational retailer Walmart takes second place with 550,000 searches a month. Electronics retailer Best Buy rounds up the top three with a huge 301,000 searches on average this month across the world!
The Psychology Behind Black Friday: Why Do Consumers Spend More Online During This Time?
Head of Consumer Insight, Jon Knott, at commented on the reason why consumers tend to spend more online on Black Friday.
“With coronavirus restrictions affecting the way we shop, a slight decrease in Black Friday spending in 2020, according to Statista. However, this year it is predicted a record amount will be spent on Black Friday deals - with many customers purchasing through online channels.
The infamous overnight queues of shoppers trying to secure their place in line have become less common in recent years. The move to online was always predicted to happen due to e-commerce convenience, easier price comparison, and quick delivery options. However, this transition was sped up massively to the pandemic as the demand for all these features was suddenly very apparent.
Many companies now also expand their deals to start the week before exclusively on site, which has also encouraged people to move online. This deal also lengthens shopping momentum, which is the impulse to keep shopping after an initial purchase. E-commerce stores, especially fashion brands, have also emulated the real-in store experience by promoting add-ons with features such as ‘frequently bought with’ or ‘complete the set’. Alongside a minimum delivery spend, meaning customers are being tempted to spend more than intended.
When paying for items physically via card or cash payments, it’s easier to keep note of how much you’ve spent. Whereas with online shopping, you can easily lose track of spending by either buying in bulk, such as multiple sizes, or purchasing items that you can ‘buy now’ but ‘pay later’.
Additionally, office closures mean people are spending less money on amenities, such as traveling or parking. Working from home also frees up a lot of spare time. Online shopping is then a leisure activity and form of escapism that we can use to fill up the excess of free time we find ourselves with.
This said, long physical queues are not a thing of the past just yet, as both online and offline Black Friday deals attract many customers to shop impulsively to secure limited time offers in fear of missing out.”
Founded in 2008 by George Karibian and Jan Farrarons, Paymentsense is one of the fastest-growing fintech companies in Europe, and proud to be an industry game-changer. They currently supply card machines and e-commerce solutions to over 80,000 businesses in the UK and Ireland.
Combining cutting-edge technology, extraordinary customer support and unconventional thinking, they offer low rates and peace of mind to their customers. Their smart proprietary technology platform enables small businesses to process payments online, in-store and over the phone.
About Jon Knotts
Jon has over ten years’ experience in consumer research and delivering data-led thought leadership. He is a seasoned conference speaker in the hospitality sector, including at the Takeaway Expo, and is known for being an active data advocate in the fintech space. Jon has previously worked with some of the biggest retailers and brands globally and now leads the research team as Head of Insight at Paymentsense, Europe’s biggest merchant services provider. He is responsible for identifying and understanding industry & consumer trends.
Google Search volume data for each brand name followed by “Black Friday” was analysed, for example “Aldi Black Friday”. Figers correct as of November 18th 2021.