In its latest forecast for sales volume on the Black Friday and Cyber Monday promotion days, the German Trade Association (HDE) expects sales of 5.8 billion euros this year. This corresponds to an increase of three percent compared to the previous year.
However, the discount days cannot repeat the major growth spurts of previous years this year, the association said in a press release. “The main reason for this is the poor consumer mood. “People are much more reluctant to take advantage of special offers,” says HDE deputy managing director Stephan Tromp.
Last year, sales on the two days of the campaign increased by 20 percent compared to the previous year. However, the smaller increase of three percent still means an increase of 200 million euros, according to the association.
At the same time, more and more people are planning to specifically hunt for bargains on Cyber Monday and Black Friday. Another consumer study commissioned by the HDE shows that almost half of those surveyed intend to use Black Friday. In the previous year this value was 42 percent. On Cyber Monday it is more than a third – in 2022 it was 26 percent. According to Tromp, the popularity of Black Friday and Cyber Monday continues to rise. The two days of action assert their important role, especially during Christmas business. According to the current survey, 56 percent (Black Friday) and 46 percent (Cyber Monday) of those who use the promotional days also want to do Christmas shopping there this year.
This means that online shoppers’ spending on Christmas shopping on Black Friday and Cyber Monday totals around 1.65 billion euros. Compared to the previous year, this value is almost unchanged – in 2022 it was around 1.7 billion euros.
The survey was carried out by the retail research institute IFH Cologne on behalf of the HDE among 1,121 online shoppers in October. Black Friday falls on November 24th this year, Cyber Monday is on November 27th