Like many trends in the US, it’s hard to imagine Switzerland without Black Friday. The third Friday in November, which Americans use as a bridge day after Thanksgiving, heralds the start of the Christmas shopping season. Seven years later it has established itself as one of the best selling days in the retail trade here, also in Germany.
For example, at Migros’ subsidiary Meelectronic, sales on Black Friday are typically ten times higher than on a regular Friday, as indicated on demand. A spokesperson at Brack.ch notes that the day of the sale makes up a low single-digit percentage of annual sales. And with the Christmas business that followed, the last few weeks of the year are even responsible for almost a third of annual sales.
The day will attract crowds
This is an example of how important the day has become for many retailers. “Black Friday has clearly gained in importance in recent years,” confirms Patrick Kessler, Managing Director of the Swiss Retailers Association, who is in constant contact with retailers and has a unique knowledge of retail trends.
Experts assume that the day will again attract the masses this year, although consumer confidence is now lower than it has been since the 1970s, when the survey began. «The consumption potential in Switzerland is high, despite the pessimistic mood of the consumer. This is because job security is still good”, »meret Mügeli, an economist at retail trade, explains this assessment.
89% want to shop
Also, according to Kessler, inflation doesn’t really hit the wallet in this country. “So I’m convinced the Black Friday and Christmas business will go well,” he says.
A recent survey conducted by the Swiss Retail Association in conjunction with the discount app Profital also shows that Swiss residents do not want to miss out on the shopping fun this year as well. 89% of respondents said they shopped on Black Friday.
If you ask among Swiss retailers, you’ll find that almost all of them were confident for the day. For example, Mediamarkt expects “at least as much sales as last year”, like the Coop. Most of the other retailers surveyed also say they expect sales volumes to be the same as in previous years.
Is it more popular than before?
However, the fear that people will have to tighten their belts in the near future is ubiquitous. «If the perceived rate of inflation rises, price becomes more important to consumers. Therefore, it is possible that these bargaining days will gain importance, especially in the current situation,” says Mügeli.
It could even mean that Black Friday will be even more popular than in previous years. Because it should take advantage of the fact that people in the current situation are increasingly looking for the cheapest offers and saving their purchases for this purpose. This leads to a focus on Black Friday.
TV or coffee maker
“We expect many customers with larger purchases to wait for campaign days in hopes of bargaining,” says Coop’s subsidiaries Microspot and Interdiscount. And at Aldi Suisse it is conceivable that “one or the other may have waited a long time before buying a new television set or coffee maker”.
The numbers confirm this: Retail sales were below average in October, meaning many people waited a week to shop. But even in previous years, autumn purchases have increasingly shifted to Black Friday. And the Christmas business, which usually picks up about two weeks before Christmas, is shifting more and more towards Black Friday. (pbe/SDA)