Wednesday , May 25 2022

Index – Economy – Black Friday does not whip up purchase appetite


In recent years, Black Friday, ie Black Friday, has become an advertising theme throughout the month in Hungary. Although Black Friday is the opening day of the big Christmas shopping season, when companies scatter their stocks with brutal discounts and people trample each other and push TVs and colored ovens into the basket, it never made a big impression on Hungarian shoppers.

In Hungary, this kind of life-and-death struggle was more pronounced when the first discount chains appeared in the country and people fell in each other’s throats for brewing the 79 forint beer. This is partly due, of course, to the fact that the promotions were not so tempting.

Because what someone does at a 70 percent discount is not guaranteed to do for 20-30 percent.

This year, Black Friday itself is expected to be even less important, says marketer Rita Jagodics. The reason for this is multilateral. On the one hand, the population does not expect so much of this action that they want to move mountains for it. People have priced at the fact that there are bigger discounts in November, but the loss isn’t really skyrocketing if they miss the opportunity. Companies posted up to a 20-30 percent drop last year, and that’s largely reflected in this year’s deals too.

Customers rubbed

At the same time, Jagodics noted, the epidemic is also having a fundamental impact on customer habits and willingness to spend. So much so that you can bury an entire Black Friday beneath you. Due to stuck stocks, the promotions continue, so Black Friday doesn’t even stand out. And companies don’t make enough cuts to make it happen anyway. Furthermore, it is unclear whether or not any of the companies wants to participate in it: 60 percent of companies do not operate with Black Friday at all, and a third of traders lose this year, according to a survey by Hungarian Yellow Bird.

Also, shoppers are more aware, they can’t be fooled by mentioning Black Friday. This is compounded by the fact that while retailers trust end-of-year hair, people are afraid to buy. On the one hand, from the physical part of it, that is, from scrambling in centers, and on the other, from whether they can afford to spend the end of the year. Only a fifth of those surveyed said they would shop for Christmas in a classic store despite the pandemic.

All of this means that long discounts are expected for the entire Christmas season. It’s unclear whether this will come in or not. Traders are forecasting their turnover to increase this year as well, with nearly half of shoppers planning to spend less at the same time, and nearly half also planning to spend almost as much as last year. The checkout desk is likely to be decided where the rates will tip.

But at what checkout?

In the case of footwear and clothing, personal presence is still important, but for technical items – and virtually any product that does not require a try, grab – online commerce is expected to gain ground. This is already evident after closing. In the spring, shoppers slowly returned to the stores, but towards the end of the year, it can be felt that many online stores prefer.

Only a fifth of those surveyed would buy this way for Christmas, and almost 60 per cent of those buying something more online than before .

In any event, it is clear that companies that have not developed their web store focused solely on physical sales can get into big trouble.

Paved foaming

Black Friday is traditionally the Friday after Thanksgiving in the United States, when stores await shoppers with gross discounts. It’s not uncommon for a 70 percent drop either, so it’s somewhat understandable when people go crazy. In Hungary, traders have never printed such a pencil so much, but the average of all discounts reached 10-20 percent. This, of course, didn’t blow up the market, so Black Friday didn’t even make an impact. The big tech chains started the multi-day Black Friday, so it either lasted from Friday through Sunday, or simply as long as the trader thought it was good. This year, the one-handed e-Digital and eMAG announce separately Black Friday as their own competition for two separate weekends. It’s been more than a week in Alza and the green creature will be shouting the slogan by the end of the month.

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