Despite numerous online and physical retailers throw around discounts, many of German retailers prefer there was no Black Friday at all
According to Ecommerce News, 60% of German retailers don’t want Black Friday. Among 674 retailers and consumers surveyed by Roman Kmenta, 60% of retailers would prefer if Black Friday didn’t exist, whereas only 44% of consumers could do well without the new shopping day.
As to the impact the retailers expect for their own business through Black Friday, 1 out of 3 (32%) expect more revenue, while 28% hope to gain a stronger customer frequency. 1 out of 4 thinks they will acquire new customers, meanwhile 12% bets on more profit. And finally, only 5% think they will attract new customers that will keep coming back.
Some of the retailers (42%) think Black Friday will damage the Christmas business, whereas 16% think the latter will only grow stronger because of Black Friday. 43% of German retailers claim that Black Friday harms profit. A similar answer was also given when both retailers and consumers got the question: “Do you think that offers or much lower prices, such as those that are customary for Black Friday, generally rather benefit or hurt the trade?”
41% of consumers think it would hurt the industry, whereas, among retailers, this share was 48%.