Special offers What you need to know for Black Friday and Cyber Monday 2022
Service | Düsseldorf · Retailers are once again tempting shoppers with cheap deals on Black Friday. But their sales could be lower this year. A preview.
After German retailers' business recovered slightly in September, traders are eagerly looking forward to Black Friday. On this fourth Friday in November, customers are usually particularly keen to shop, as companies entice us with cheap offers in order to make particularly high sales. According to the German Retail Association (Handelsverband Deutschland, HDE), in 2021 Cyber Monday accounted for a total of 4.9 billion euros. This corresponds to an increase in sales of 27 percent compared to the previous year.
But things could look a little different this year, with inflation and high energy prices putting pressure on consumers' spending mood. Here are the most important questions and answers.
When is Black Friday 2022?
Black Friday traditionally takes place one day after the US holiday Thanksgiving. This year it' s the 25 November. But that’s not the only day when customers can go bargain hunting: there' also Cyber Monday on 28 November and Black and Cyberweek, which run from 21 to 27 November and from 28 November to 4 December respectively.
Where does the name come from?
There are many theories. One is that shops have such high revenues on this day that they are in the black. Another theory is that retailers used to get black fingers from counting so much money. But nobody's sure which theory is true. What we do know is that the day originated in the USA. In another narrative, it is said that the police in Philadelphia proclaimed it Black Friday in 1966 because they feared there would be large crowds in front of the shops - in other words, a black mass. Retailers in Europe have been getting in on the Black Friday act since 2006.
How much do individuals spend on Black Friday?
In 2021, people in Germany planned to spend around 239 euros each. This was 34 euros more than in the previous year, according to a data survey. Across Europe, by contrast, people planned to spend an average of 226 euros at most. The Danes were in the lead with a planned 250 euros.
How much can you save when bargain hunting?
This varies greatly and is difficult to quantify. Some retailers lower the price of goods that are already reduced, others offer their entire existing range at a lower price or only individual items. The amount of discount can vary depending on the time of day.
Are there any offers consumers should be wary of?
The Consumer Advice Centre NRW warns against scammers, for example on the sales platform Amazon. There, many dubious traders offer their goods at very low prices. Fake offers have been noticed several times, where sellers let their customers pay in advance, but the goods never arrived. The consumer advice centre therefore advises customers to pay by invoice or direct debit. If an order cannot be cancelled, customers can make use of their legal right to return the goods. This is possible within 14 days after the item has been delivered and without giving reasons.
What forecast does the retail industry dare to make for Black Friday 2022?
In general, the day means retailers see a noticeable increase in revenue. However, it is still too early to give a concrete forecast, writes a spokesperson for the HDE in response to an enquiry. The situation is characterised by great uncertainty for both retailers and consumers. High energy prices and inflation have sent consumer spending into a tailspin. "But there are also optimistic general conditions, such as the very stable situation on the labour market," said the HDE spokesperson. And: Black Friday with its numerous special offers could also benefit from inflation. Many people are now looking for cheaper shopping opportunities and want to save more. It is still unclear which trend will prevail.
Original text: Jana Marquardt
Translation: Jean Lennox
