Friday, November 27 marks this year’s Black Friday. Like so many things in 2020, the shopping event will take place under the shadow of the coronavirus pandemic. Usually, Black Friday is considered one of the busiest and most lucrative days of the year for the retail industry. Stationary retail will definitely go through a whole new Black Friday experience this year – with limited numbers of shoppers in stores allowed and a general reluctance of people to take part in big events. So maybe Black Friday 2020 will be an even bigger success for eCommerce, similar to this year’s Amazon Prime Day? In Germany, where Black Friday has always primarily been an online shopping event, people are cautious this year, as a survey conducted by online price comparison service idealo.de reveals. Although taxes have been reduced to stimulate consumption, two in three consumers from Germany are not going to take part in the Black Friday deals battle this year – or are at least planning to spend less than last year. 61% even state that they are not going to take part in any such shopping events in the future. The reasons are diverse: Some have got into financial difficulties; others expect less attractive deals because they think that retailers need to overcome losses caused by the pandemic as well. When asked about their perceived savings during last year’s Black Friday, it turns out that many German consumers in general are rather skeptical of the discounts announced:
Many online retailers usually advertise strong Black Friday discounts of, for example, 50% or even 70%. According to the idealo.de survey, Germans are more skeptical as to how much money they can actually save thanks to Black Friday deals: When asked about how much they think they saved during last year’s Black Friday, about one third of respondents state that it was 10% or less. Estimates by idealo.de prove them right: The average amount saved in the 50 best-selling product categories was only 8% in 2019. 42% of German consumers, however, have the feeling that they saved between 11% and 20% during last year’s Black Friday shopping event. About one in four German consumers is even more optimistic: 23% state that they think they saved between 21% and 40% thanks to deals on Black Friday 2019. Only 5% are convinced that Black Friday discounts of more than 40% are realistic.
It remains to be seen how high the actual average amounts saved will be this year. As the actual discounts have often not been as high as initially advertised in past years, buyers on this year’s Black Friday should remember: Remain attentive and compare prices in advance.
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