The German Retail Association (HDE) expects sales of 5.9 billion euros for the Black Friday and Cyber Monday sales days this year. This puts sales at the same level as last year.
'This year, many consumers will once again be hunting for bargains online and offline on Black Friday and Cyber Monday. But the general reluctance to buy can also be felt around the promotional days,' says Stephan Tromp, deputy HDE managing director.
In recent years, spending on promotional days has increased by 20 percent or more compared to the previous year. However, in 2023 there was only a slight year-on-year growth in sales of six percent. 'The years-long upward trend in sales on Black Friday and Cyber Monday has weakened significantly and is coming to a standstill at a high level this year,' Tromp continues. The HDE expects sales of 5.9 billion euros on the promotional days in 2024.
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As in previous years, many consumers are planning to use the promotional days to make purchases. This is shown by a survey commissioned by the HDE. Almost half of those surveyed (46 percent) plan to go bargain hunting on Black Friday, and a good third on Cyber Monday. Compared to last year, the proportion of consumers who want to use the promotional days is therefore slightly lower. 'Despite the weak consumer sentiment, the special offers around Black Friday and Cyber Monday continue to attract great interest,' says Tromp.
During the Christmas season, promotional days usually provide important sales impulses. This year, around 1.6 billion euros of Black Friday and Cyber Monday spending will go towards Christmas shopping. According to the survey, more than half of respondents (52 percent) also use Black Friday for Christmas shopping. For 42 percent of respondents, Cyber Monday is an opportunity to shop for the holidays.
The survey was conducted by the IFH Cologne on behalf of the HDE. Around 1,100 online shoppers were surveyed in October 2024. Black Friday falls on November 29th this year, and Cyber Monday on December 2nd.
More information:
HDE
www.einzelhandel.de