According to expert, discount level on Black Friday is crucial
Published: Friday, Nov 24th 2023, 10:20
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The Swiss retail trade kicked off the Black Friday discount battle on Friday (today). The battle for customers is more important this year in view of the gloomy consumer sentiment, says Cornelia Brühwiler, Partner at consulting firm AlixPartners. According to the consumer expert, the outlook for 2024 is also not very good.
"In view of tighter budgets, the level of discount will be even more decisive for sales success this year," predicts Brühwiler. "For retailers with powerful offers, Black Friday could at least be a ray of hope in the Christmas business."
This is because the final quarter, which is usually so strong in terms of sales, is likely to be rather weak this year: "According to our latest survey of 1,000 Swiss consumers, a quarter of respondents are planning to spend less on Christmas this year," explains Brühwiler. Savings will be made less on food and more on gifts.
Bleak prospects
Consumers are therefore likely to increasingly try to save money through discounts and promotions. "The importance of bargain hunting around Black Friday is therefore likely to increase," summarizes the consumer expert.
And there is also little cause for optimism for next year: "The Swiss are increasingly worried about money again, which is likely to be reflected above all in falling spending in the non-food sector," explains Brühwiler. This is all the more "alarming" as there has already been a marked decline in sales in these areas this year.
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