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Black Friday in times of Covid, the last bullet of shops to 'save' accounts

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No need to worry. Black Friday has not been canceled, but it will be very different from the one experienced in recent years. In this 2020 we will not see the images of long lines and countless people gathering in department stores trying to take everything that is in their hands. The pandemic has changed the way people shop, and for this day, it will lead to the November 27, department stores have had to reinvent themselves and promote the purchase of products through the internet. For small businesses it will be more complicated, although 78% plan to apply special offers to its products, according to technology consultancy Capgemini.

It has been eight years since companies began to include the 'Black Friday' offers in our country. And since then, most companies have copied the idea and included a special day of one-time discounts in the month of November.

This year, Black Friday will not be a one-day affair. The offers had to be anticipated, and for a few weeks you can see offers on different platforms. But the "nightmare" that the sector is experiencing, and more specifically small businesses, due to the pandemic, may increase if the days of promotions only reach the web platforms.

And it is that house confinements and restrictions have changed the way of buying: it is expected that the 89% of purchases to be done on November 27 be online, according to a study by Privalia. Both Black Friday and Cyber ​​Monday (November 30) will concentrate their sales exclusively on the Internet, so that physical stores need more than ever to access digitization and sell their products online.

THE PANDEMIC ATTACKS SPENDING

According to a study by the Cetelem Observatory, the average spending by Spaniards will be 251 euros, assuming 4% less compared to last year's purchases. An analysis by Bnext reaches the same conclusion, which predicts a 4.2% drop in average spending. However, he expects the number of purchases to increase by 18%, mainly due to increased use of the Internet.

The same study speaks of a drop in average spend for each purchase, going from 29 euros last year to 25 euros, constituting a fall of 13.8%. Cetelem, for its part, confirms the Covid hit to the commerce sector in a survey in which 47% of consumers will buy on the day of 'Black Friday', compared to 51% the previous year.

Also, only one 14% of consumers plan to increase their spending during these days, while 35% will decide to reduce their expenses, according to Capgemini.

INTERNET SALES INCREASE

Despite the drop in average spending, companies predict that online sales will "save" the accounts for the month. Capgemini concludes in its study that a 46% of establishments expect an increase in online sales, and almost half of consumers (49%) believe that their average purchases on the web will increase.

The use of the Internet has become popular, and because of the pandemic its consumption has increased to record figures. Hence, 65% of those surveyed by Cetelem believe that they will buy a product online during Black Friday, 16 points more than that collected by the company in 2019.

OFFERS, A DOWN TREND

Not all that glitters is gold. The biggest day of offers of the year keeps a trend that the Organization of Consumers and Users (OCU) explains in a report that shows the decline in bids. In 2019, the number of discounted products fell from 32% to 19%, with a decrease of three points also in 2018, while the percentage of products that increased in price increased from 20% to 29%.

For this reason, the organization asks buyers to first establish a budget, monitor products and compare offers. On this line, he warns of possible discount fraud in many products, where the discounted price is very similar or equal to the previous one.

SMALL SHOPS LEFT BEHIND

Ultimately, small businesses and local retail spaces are going to be the hardest hit on Black Friday by the pandemic and mobility restrictions. According to Cetelem, only 6% of those surveyed are clear that will go to physical stores to buy during the sale day. From Criteo, a retailer support company, confidence in online shopping grows: a 45% of consumers feel safer when buying from the internet.

However, according to Capgemini, retail stores, due to confinement, they have had to reinvent themselves and carry out the digitization process in their respective businesses. Companies such as Mi Electro, which encompasses more than 350 small stores, have managed to promote the sale of household appliances and electronic products from the internet, in such a way that physical stores can access Black Friday and offer their promotions to consumers.

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