Black Friday 2020: Greater acceptance for online shopping
Around 75 percent of the retailers surveyed believe that the acceptance of the population for online shopping for products and services has increased since the outbreak of the COVID 19 pandemic. “Online purchases increased significantly due to the Corona crisis,” explains Konrad Kreid, Managing Director of Black Friday GmbH. “The number of consumers who previously had resentment against internet purchases has decreased significantly. Due to the reduced social contacts, new customers bought online for the first time and had the experience that shopping went smoothly. This customer group will continue to make online purchases in the future, ”said Kreid.
Strengthening domestic trade
Around 58 percent of German online retailers estimate that US retail groups will continue to achieve significant sales increases through targeted sales campaigns in the summer, such as the annual Amazon Prime Day. “For this reason, more than 47 percent of German retailers would welcome a sales event in summer, similar to the annual Black Friday sale in November. That could be a clear impetus for the currently suffering domestic trade, ”says Kreid.
“The situation is certainly currently being reinforced by the corona situation. Many retailers were unable to open their shops for weeks, and many purchases were postponed due to uncertainty. That led to full stocks and unsold collections, ”explains Managing Director Kreid.
Around 50 percent of the retailers surveyed therefore see a sales event as a good opportunity to reduce their inventory levels. More than 47 percent cited the acquisition of new customers, around 24 percent an increase in sales per customer, around 26 percent a positive impulse for their company and around 16 percent the occupancy or securing of jobs as advantages of a sales event.
Summer Black Friday in July 2020
Confirmed by the results of the survey, Black Friday GmbH will host Summer Black Friday for the first time this year. “Unlike the well-known Black Friday, which takes place on only one day each year, it is Summer Black Friday last a whole week, from July 30th to August 5th. Intensive preparations are currently underway and we have already received hundreds of promises from dealers. The process will look similar to our well-known Black Friday Sale event, ”said Kreid.
Around 84 percent of consumers participate
There is a high level of approval from end consumers who would welcome a Summer Black Friday. The approximately 84 percent of potentially participating consumers plan to spend an average of around 360 euros. 84 percent would buy for themselves and around 60 percent for friends or family. 79 percent see good chances for bargains due to the full stock, while 57 percent see the reason for this in the summer months, which are weak for retailers.
The discount expectations are between 30 and 50 percent regardless of the industry. 80 percent of German end consumers see Summer Black Friday as a good opportunity to strengthen domestic trade towards international retail groups.
Also read: How strongly the corona crisis really affects online retail