Discount promotions
Black Friday: Customers won’t spend more than 2023
Only a few days until Black Friday. According to a survey, interest in discount campaigns is declining slightly this year.
Many customers want to look for bargains around Black Friday on November 29th, but according to a forecast they do not want to spend more than last year. Retail in Germany expects total sales of 5.9 billion euros for the promotional days, as the German Trade Association (HDE) announced. In the past, retailers were able to enjoy strong growth thanks to discount campaigns. In 2023, the increase in sales compared to the previous year was 6 percent, and in previous years it was even 20 percent or more.
The estimate is based on a survey by the retail research institute IFH. For this purpose, 1,100 people aged 20 and over who shop online were surveyed. Interest in Black Friday is down slightly this year. 46 percent of those surveyed would like to go bargain hunting, which is three percentage points less than a year ago. Many want to use the discounts to buy Christmas presents.
“The general reluctance to buy can also be felt around the promotional days,” said HDE deputy managing director Stephan Tromp. The year-long upward trend in sales has weakened significantly and is “coming to a standstill at a high level” this year.
Black Friday originated in the USA
For Black Friday and the following Cyber Monday, numerous retailers in Germany offer a particularly large number of products at reduced prices. In recent years it has become established that special offers are offered in the days and weeks beforehand. The sales days surrounding the discount campaign are among the most important of the year for retailers, along with the Advent Saturdays.
Black Friday, whose name has several possible explanations, has its origins in the USA. There, the bridge day after Thanksgiving, the fourth Thursday in November, marks the start of the Christmas business. In 2013, the Black Friday brand was trademarked in Germany.
dpa
Source: Stern
