Black Friday and Cyber Monday: Retail Expects Slight Sales Decline - Black Friday 2024 still lures German shoppers despite economic struggles
Despite economic challenges, Black Friday and Cyber Monday remain popular among German consumers, with 48% planning to shop on Black Friday and 34% on Cyber Monday in 2024. A recent survey of 1,042 online shoppers aged 20 and older, conducted by IFH Cologne on behalf of the HDE, reveals this ongoing attraction.
The survey, carried out in October 2024, found that Black Friday and Cyber Monday consumer spending in Germany has increased steadily since 2016. However, the upward trend in sales during these events has stalled in 2024, following a modest rise in 2023. Despite this, a significant portion of consumers, including those 'just scraping by', show above-average interest in these sales events. Stephan Tromp, the deputy managing director of the HDE, notes that consumers are drawn to these events due to economic pressures.
Among those planning to shop, 54% will use Black Friday for Christmas shopping, compared to 42% for Cyber Monday. Black Friday in 2024 falls on November 28, with Cyber Monday following on December 1.
While the growth in sales during Black Friday and Cyber Monday has slowed, these events continue to attract a substantial number of German consumers, even among those facing financial difficulties. The HDE, represented by Stephan Tromp, acknowledges the economic motivations behind this interest.
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