Inflation fuels the search for discounts: The importance of November as a discount month increases again

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The discount month of November begins. There are three major shopping super days that encourage you to save money on your purchases: Singles’ Day on November 11, Black Friday on the 24th, and Cyber ​​Monday the following Monday.

How important are these bargaining days for the Swiss? This year, 27 percent of survey respondents plan to make special purchases on Black Friday. The survey from the market research institute GfK is open only to Blick. Commissioned by cashback platform Discountcorner.

According to their boss Denise Eggenberger (41), the number of people wanting to shop is likely to increase in the next few days. “Our experience shows that many people prepare their shopping lists only one to two weeks before the so-called Black Week,” he tells Blick. Many items, such as holiday flights or furniture, would also be purchased spontaneously.

Last year, 56 percent of those surveyed treated themselves to something on Bargain Friday. More than 90 percent were satisfied with their purchases.

electronic or fashion

This year, 86 percent plan to spend the same or even more than in 2022. The average budget is 238 francs. Home electronics products are the most popular for nearly 80 percent of survey respondents. The third also stocks clothes and shoes, new furniture or other household items.

Nearly a third of survey respondents deliberately wait for Black Friday to make major investments. “In economically tense times, consumers are more conservative with their spending,” says Eggenberger. “We assume that consumers, especially those who are tightening their belts a bit at the moment, will increasingly do their Christmas shopping during Black Friday.”

Because due to increasing prices, more and more people have to pay attention to their budget. Rent, health insurance and electricity costs are increasing. VAT will also increase in 2024.

Dagmar Jenni (55) says that customers’ price sensitivity has increased due to inflation. She is the director of the Swiss Retail Federation. “Despite the increase in prices, you still want to treat yourself and your loved ones to something nice for the Christmas period. Regarding November’s sale month, he explains: “As a result, the importance of special shopping days increases.” According to a survey conducted by the retail association, customers are reducing consumption in daily life and planning larger purchases, especially on shopping days.

Young people pay particular attention to the budget

Especially young people need to be careful about their spending. “Due to their smaller budgets, younger consumers are generally more price conscious than older people,” explains Discount Corner’s Eggenberger. Those between the ages of 15 and 34 also evaluate discount days more positively than older generations.

Additionally, Black Friday has shifted significantly online in recent years. 43 percent of survey respondents plan to purchase discounted products only online. Some people want to shop both online and in stores. The general manager further explains: “During the research we found that online discount offers are used almost 70 percent more by young people than by older people.”

Source :Blick