The November sales frenzy is about to begin with four major sales tipped to draw buyers in to save money amid the cost-of-living crisis.
Click Frenzy begins tomorrow – it opened to Kiwi shoppers for the first time last year and is a three-day online only event.
Singles' Day follows on November 11 – its popularity overseas is immense and is gaining momentum in New Zealand according to impartial price and product and comparison site PriceSpy.
Singles' Day is a Chinese shopping day that originated as an unofficial holiday for bachelors. It’s also known as the ‘anti-Valentine’s Day’. The date was chosen because it includes all ones (11/11) as a nod to the ‘single’ element.
PriceSpy spokesperson Jordan Tini told 1News based on last year’s insights, it’s starting to see that awareness levels are growing.
“Brands do know about it as more sales are popping up year-on-year,” he says.
Last year Singles’ Day recorded a $30.8m online spend (up 30% on 2020), followed by Black Friday at $39.8m (up 17% on 2020) and Cyber Monday at $39.5m (up 19% on 2020), according to research by NZ Post.
Retail NZ chief executive Greg Harford says Singles' Day is a massive shopping event in China and, like many international shopping festivals, has become part of the shopping landscape here.
Black Friday falls on November 25 this year, with Cyber Monday on the 28th.
NZ Post’s research shows Kiwis spent more than $1.3 billion buying physical goods online during Q3 2022, with 75% of that spend being local.
Deals welcome amid cost-of-living crisis
“Kiwis have always been keen to make the most of great deals, but this year is likely to see even more interest in the sales days as usual. The current cost-of-living crisis is putting real pressure on many Kiwi households and in a difficult environment like the present, sales days are likely to be very popular,” Harford says.
“Collectively, these sales opportunities are great opportunities for customers to get some really good deals ahead of the busy December shopping period. They are critical for retailers to know that they are getting ahead of the curve before Christmas.
"Singles' Day, in particular, offers some good international opportunities for NZ businesses that might be selling online into places like China.”
Likewise, NZ Post is predicting a strong finish to the year as the next round of sales kicks off.
“The big online shopping events (Click Frenzy, Singles’ Day, Black Friday and Cyber Monday) leading into the Christmas shopping period are coming up, and this will see online spending increase," NZ Post general manager of business marketing Chris Wong said.
“The signs are there that the return of a ‘more normal’ pre-pandemic environment is encouraging many shoppers to return to some of their pre-pandemic habits.
“Kiwis are also continuing to make the positive choice to buy local. 75% of spending online in Q3 2022 was with NZ-based retailers, up from 71% a year ago.
“Context is important here. The same quarter last year saw a spike in online spending due to Covid-19 lockdowns, but when we compare spending from this quarter to the same quarter in pre-pandemic 2019, we’re up a healthy 39% in online spending,” Wong said.
"There’s no doubt, despite a short-term decline in growth, that online shopping is still in a strong position for the long term."
Don't go broke saving money
Tini says preparation is key and warns buyers not to go broke saving money.
“Make a list of things you want and would pay up-front for. You don’t need to go into debt for a sale, so keep that in mind. Take myself for example. For Christmas last year, I bought my family Crocs and it made life much easier, so preparation helps!”
“Using something like PriceSpy throughout this season can help save thousands of dollars in the long-term, as well as providing information on the cheapest shops to buy from. PriceSpy also provides information how much an item has previously been sold for – so shoppers can see if a sale price is good or not.
“Especially now, with a cost-of-living crisis looming, using a free site like PriceSpy is crucial in helping consumers save money,” Tini says.
Harford agrees.
"It’s always a good idea for customers to have an idea of what they are looking for and to shop around for the best deal. It’s good to know your budget and stick to it."
SHARE ME