Black Friday is growing but unpopular with 60% of German retailers wishing the imported American sales day didn’t exist. Even from those who take part in the price cutting day, 44% would prefer the even didn’t happen.
The study by Roman Kmenta discovered that consumers largely view Black Friday as an online affair, even though many high street retailers will be promoting instore offers. 42% of consumers say they’ll be hunting for bargains online rather than in physical stores. What’s also interesting is that consumers don’t think the hype will impact their behaviour, whilst at the same time 94% believe that consumers are driven by reduced prices to buy more on Black Friday… just not themselves!
Almost half of retailers believe Black Friday is a growing but harmful to trade whilst 30% see it as a benefit. 45% of consumers think that the boost in sale is profitable for retailers, but realistically consumers have no idea on retailers margins and whether they are simply winning turnover as opposed to low margins or even selling at a loss. Only 12% of retailers think that Black Friday is growing into an event that will give them increased profits.
So what do retailers want from Black Friday – a quarter hope it’ll attract new customers but only 5% think that they’ll realistically be returning customers.
There was agreement from retailers that the more Black Friday is growing the more it damages their Christmas business. Over the longer term, 43% of retailers believe that Black Friday generally hurts retailers rather than having any real benefit.
from Ecommerce – Tamebay https://ift.tt/2DhSx9q via IFTTT
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