The shopping season is not the same for all of us. For some, it’s a great opportunity to buy gifts for their loved ones. For some, a chance to boost their sales with well-crafted marketing campaigns. What does the season mean for traders? How do they regard the discount offers? Do they shop much? Does Black Friday affect their trading? If yes, in what way? OctaFX conducted a survey to learn exactly that.
Black Friday shopping: traders approach
More than 1100 respondents from over 60 countries took part in the survey in the beginning of November 2022. What is their opinion on Black Friday deals? Are they worth it? How many of them make spontaneous purchases? Here are the answers.
- More than 70 per cent of traders find Black Friday deals good value, while only slightly more than 20 per cent never buy anything during this season.
- 77.9 per cent of traders compare the prices before and during Black Friday with varying frequency, highlighting the prevalence of an analytical mindset common among professional investors.
- Most respondents buy one or two items using Black Friday discounts, while more than half spend on those items more than they usually spend.
- Electronics, clothing, and household appliances are the three most popular types of products that traders buy during the Black Friday period, with the majority of them doing their shopping online.
- 56.7 per cent tend to make spontaneous, emotional purchases, while 43.3 per cent claim that they don’t. Still, even professional traders make those purchases. After all, we all should treat ourselves from time to time.
Trading experience & the shopping experience
The survey conducted by OctaFX showed, among other things, several ways that the trading experience affects the Black Friday shopping experience and, possibly, the everyday lives of traders.
Those with a lot of experience in trading more often don’t buy anything on Black Friday, but those who do, buy more products during this period than less experienced investors.
While the majority of survey respondents compare and analyse the prices before and during Black Friday, those with the most experience most often do it always. This leads to the conclusion that trading experience is related to using analytical skills in real life.
The survey results also pointed out that more experienced traders tend to buy more media products, such as e-books and subscription services, usually associated with self-education and personal development.
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities and small to medium enterprises.
On a side note, OctaFX has also won more than 50 awards since its foundation, including the 2021 ‘Best ECN Broker’ award from World Finance and the 2022 ‘Best Global Broker Asia’ award from International Business Magazine.
