Black Friday and Cyber Monday: Retail Expects Slight Sales Decline - Black Friday 2024 Draws Nearly Half of German Shoppers Amid Economic Strain
This year's Black Friday 2024 and Cyber Monday are set for November 28 and December 1, respectively. A recent survey reveals that 48% of Germans plan to shop on Black Friday 2024, with 37% intending to do so on Cyber Monday. The events, which have seen steady growth in consumer spending since 2016, are particularly appealing to those on tight budgets.
Stephan Tromp, deputy CEO of the German Retail Association (HDE), attributes the popularity of these sales events to their appeal in challenging economic times. He notes that 54% of shoppers will use Black Friday 2024 for Christmas shopping, compared to 42% for Cyber Monday, indicating a slight preference for Black Friday 2024 among German consumers.
The allure of these events is not limited to those with ample disposable income. Respondents 'just scraping by' showed above-average interest in both Black Friday 2024 and Cyber Monday, suggesting that they see these days as opportunities to stretch their budgets further.
Despite the slowdown in year-over-year sales growth in 2023 and the stalling upward trend expected in 2024, Black Friday 2024 and Cyber Monday remain popular among German consumers. With the events just around the corner, retailers are gearing up to meet the anticipated demand, offering deep discounts to attract shoppers looking to make the most of their money.
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