Where does Black Friday come from?
Shopping in the US has a long tradition the day after Thanksgiving. After the official holiday, many Americans take the opportunity to shop on Black Friday. Different theories circulate on the origin of the name . The “black Friday” is associated with about the crowds in the shops, or it is said that the retailers had just written that day for the first time in the financial year black numbers.
Which Swiss dealers rely on the shopping event?
The department store Manor has brought the action day 2015 in their stores. Since then, more and more retailers have participated in it. In 2016, around 30 dealers took part, meanwhile there are more than 300. Not only fashion chains, electronics dealers or department stores are part of the party. Telecom companies, airlines, tour operators or hairdressers as well as providers in the higher-priced segment such as Globus or Apple attract with discounts.
In addition, there are retailers who want to keep away from the discount battle – and sometimes want to use this for marketing purposes. The Schuhhaus Walder deliberately advertises, while the bookseller Ex Libris refers to the argument of reliability and the discount campaigns during the year.
How does the discount battle expand?
The dealers are not limited to Black Friday, but launch the discount battle earlier. For example, Singles’ Day from China, which takes place on November 11th, is also becoming more popular here in Germany. Two years ago, only 4 retailers participated, around 50 in 2018, and there are already 110 this year. From Black Friday, a discount week has developed, with the completion of Cyber Monday next Monday.
Will there be further records this year?
Black Friday is the highest selling day of action of the year. The portal blackfridaydeals.ch expects that this year a turnover of CHF 450 million in the non-food sector will be achieved within 24 hours. According to an analysis of the data of the private customers of the credit card provider Swisscard, the turnover on Black Friday 2018 was around CHF 46 million – and thus for the first time as much as on any other sales day of the year. The evaluation is expected to cover around 3% of the expenditure incurred.
As a survey by blackfridayschweiz.ch shows, almost 88% of respondents want to use the action day for shopping. At the top of the list are electronics, clothing and shoes as well as household appliances.
Does Black Friday play mainly in online trading?
The share of online sales on the shopping day is now estimated at 20%. Four fifths of sales will continue to be generated in brick-and-mortar retail. However, Swisscard’s analysis shows that sales in e-commerce have grown much faster than in stationary retail. Accordingly, the share of online business on Black Friday between 2014 and 2018 increased from 25 to 44%.
Who attacks Black Friday?
According to Swisscard, the younger the customers are, the more their spending on the day of action imported from the USA grows. In addition, the shopping event is especially relevant for consumers in the age category up to 55 years. For older customers and for people with an income starting at 300 000 Fr., Black Friday encounters less interest.
How do the dealers prepare for the discount battle?
Many providers are required. You have to temporarily hire more staff and make sure that the online shop and logistics withstand a rush. When the day of the action was introduced in Switzerland, the retailers had still granted discounts on their products across the board. Today, they are more selective and think more carefully about the products on which the discounts promise the most success.
How do traders mislead customers into additional purchases?
Apparently, older generations of electronic devices are being advertised with discounts on the original selling price. Or in the online shop, the customers with the expiration of a clock or the display of how many products are still available, an urgency suggests that they should tempt to buy.
Are the created shopping events for the retailers worthwhile?
The retailers want to boost sales with the action days . According to the market research institute GfK, however, the bill is for the least. According to the survey, the consumers do not spend more, but mainly prefer their Christmas shopping.
The discounts granted also exacerbate the pressure on margins. The retailers voluntarily go down in a price spiral that can escape less and less competitors. Nevertheless, the effort for the dealers can be worthwhile if they proceed in a clever way. For example, they buy goods specifically for the action weeks and negotiate better conditions with the manufacturers. This will allow them to offer lower prices and earn on the promotions.
What does Black Friday bring the consumer?
For customers, it is possible to make the planned purchases significantly cheaper than on a normal sales day. However, the supposed bargain in hindsight can turn out to be a bad buy. The shopping event is still popular in Switzerland. Since 2015, Google’s requests have increased sevenfold, and “Black Friday” came in ninth in the list of the most heavily googled terms last year.
However, in a survey commissioned by the portal blackfridaydeals.ch and Demoscope, 55% of respondents stated that they consider the introduction of foreign shopping days to be a negative development. The interviewees justified their dislike in particular by the fact that thereby over-consumption is promoted.
Which countermovements arise?
Countermovements take Black Friday as an opportunity to draw attention to their concerns. For example, White Monday propagates sustainable and conscious consumption. The participants of the Fridays-for-Future demonstrations also want to set a signal against unnecessary consumption at the expense of the environment.