For many customers in Germany, promotional days such as “Black Friday” are becoming less relevant due to cheap shopping portals from the Far East, such as Temu and Shein. According to a study by price comparison portal Idealo, more than 40 percent no longer need the discount campaigns.
And this is because Asian providers offer offers all year round. The representative survey among 2,000 people was conducted in September by market research institute Kantar.
Low prices all year round
A study by retail research institute IFH reaches a similar result. Of the people interested in ‘Black Friday’, almost one in four say they want to use the promotions less often this time – because of the Asian portals.
“If other platforms offer consistently low prices all year round, the importance of super discount days like Black Friday becomes less important to consumers. Why wait until the end of November when you can shop cheaply at Temu and Co at any time?” says IFH director and retail expert Kai Hudetz. Price pressure is increasing significantly and it is becoming increasingly difficult for other retailers to keep up. It is mainly a challenge for sectors such as fashion, accessories and furniture.
Almost every second person wants to use “Black Friday”.
For “Black Friday”, which this time falls on November 29, many retailers are offering numerous products at discounted prices. In recent years it has become established that special offers are offered in the days and weeks beforehand. There is great interest in the discount promotions in Germany. 46 percent of online shoppers want to go on a bargain hunt, which is three percentage points less than in 2023. This is evident from another IFH study commissioned by the German Retail Association (HDE). Many want to use the discounts to buy Christmas presents.
In addition to Advent Saturdays, the sales days around “Black Friday” are among the most important of the year for retailers in Germany. The HDE expects a total turnover of 5.9 billion euros this year. That’s about the same as last year.
“Black Friday”, whose name has several possible explanations, originated in the US. There, the window day after Thanksgiving, the fourth Thursday in November, marks the start of Christmas activities. In 2013, the “Black Friday” brand became a trademark in Germany.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
