The biggest fear is finding the same product at a lower price later.
Revolut, a global financial super app with over 20 million customers worldwide, has conducted a survey together with the research company Dynata to find out the spending plans of Italians on the occasion of Black Friday. The study was carried out in collaboration with the research company Dynata, on a representative sample of the Italian population of 1,000 adults.
While Italians are eager to find bargains, 64% believe brands inflate prices ahead of Black Friday so consumers may think they’ve gotten a better deal. In fact, 37% of the sample thinks it is necessary to monitor certain practices more closely, while 28% believes that this dynamic is still part of the game.
Italians between the ages of 18 and 44 are those who most identify these fraudulent practices (74%), while half of those over 65 say they do not detect price increases. However, from this year it will no longer be so easy to inflate prices, since thanks to the entry into force of the Omnibus directive, shops and brands will be obliged to clearly indicate the lowest price applied to products in the previous thirty days.
The greatest fear? Not security, but find lower prices later
And the biggest fear of Italians for online shopping this Black Friday is precisely linked to prices, or the possibility of finding the same product at a lower price later (21% say this, reaching 32% in Gen Z). Fear of theft of card details is reported by 18% of the sample, well below the average of other countries such as Spain (31%) or France and Germany (25%).
The solutions made available by financial companies such as Revolut, which offer disposable virtual cards, certainly also contribute to fostering greater confidence with online shopping. These cards can be regenerated as often as the customer wishes, each time with a new unique card number, meaning that the card details are no longer usable after the first purchase. Other security features that Revolut has put in place for its consumers to reduce risk when shopping online include the option to easily disable and enable ecommerce payments in the app and the 3D Secure protocol that asks the customer to log in to your account to verify certain payments on e-commerce sites.
Despite the rising cost of living, only 7% of respondents fear spending too much this Black Friday. 8% fear instead of buying the wrong product. A third of the sample says they have no fear of shopping online.
8 out of 10 Italians will make purchases, but on conditions
80% of Italians will make purchases on Black Friday, but 30% of the sample will only do so if they can find good deals and 11% say they have a limited budget, so shopping will be limited.CopyAMP code.
More than a third (36%) of those interviewed are satisfied with a 30-40% discount, but 4 out of 10 Italians will not make purchases unless the discounts reach at least 40-50%.
Overall, Italians prefer to buy only what they can afford, based on the money they have in their account (62%). More women think this way than men (65% vs 59%) who are instead more likely to consider using their credit card if they find a good deal (21% vs 15%).
15% of Gen Z and Millennials say they put money away in a separate savings account to make sure they have enough budget to fund their Black Friday purchases. Features such as Revolut’s Piggy Banks are particularly useful for these needs: users can set aside the amount they prefer every week or month automatically and easily reach their savings goals.
As far as spending categories are concerned, electronics are the most popular among men (71% indicate this), while women primarily prefer to renew their wardrobe (57%). Furniture/home decor, travel and beauty follow.