Following a record-breaking Black Friday, PriceSpy, the fully impartial price and product comparison site, predicts Boxing Day to be even bigger, with many sales expected to start on Christmas Day.
Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy, says: “Despite the popularity of Black Friday increasing by 20 per cent this year, our figures indicate Boxing Day appears to be more prevalent amongst price-savvy Kiwis.
“If shopping is to follow a similar pattern to that of last year, the percentage of consumers searching for products on Boxing Day was at an all-time high, increasing 321 per cent compared to the Tuesday before.”
Global data insights from PriceSpy also reflect that Boxing Day was the busiest sale day in 2017 for New Zealand. Interestingly, for the other seven countries where PriceSpy operate, Black Friday was found to be the busiest.
Liisa continues: “Whilst Boxing Day appears to be the most popular shopping day amongst New Zealanders, our data suggests the overall percentage of products discounted seems to be bigger on Black Friday.
In terms of the discounts consumers can expect to receive, based on historical price insights, PriceSpy predicts almost a fifth (18 per cent) of products will be cheaper on Boxing Day, offering an average saving of 13 per cent per item.
Based on the aggravated price development insights PriceSpy observe throughout the year, Boxing Day certainly appears to be the smartest time of year to make a purchase*.
These findings also show many products are priced at their lowest on Christmas Day, indicating retailers are encouraging consumers to start their Boxing Day shopping earlier.
Liisa adds: “It may be surprising to customers that the best savings can be made on Christmas Day. Especially when the retailers focus their marketing spend and attention on the promoting the sales the following day.
“For consumers, the trick will be sitting back and observing how prices fluctuate. If there’s a specific item they’re hoping to buy, we recommend they set up a price alert using the PriceSpy app and wait to be notified when the price drops. Don’t be lulled into the false economy that prices are actually cheaper on Boxing Day than at other times during December or January.
“For those looking to buy a new television however, our research indicates Boxing Day is the best time of year to buy one.
“For example, last year 65 per cent of products listed under the shopping category of ‘televisions’ received a Boxing Day discount and the average saving offered was 22 per cent.
Based on historical price data, PriceSpy predicts the cheapest Boxing Day 2018 products will come from the shopping categories of televisions, headphones and mobile phones.
So, what’s going to be popular this Boxing Day?
Here are PriceSpy’s top five product predictions:
Samsung Galaxy S9
Apple iPad 9.7” 32GB
Liisa concludes: “No matter what people are looking to buy on Boxing Day, our key recommendation to shoppers is to carry out important price and product research before they buy, to make sure they are getting the best price possible.”
Download the PriceSpy app here.