Retail stores looking forward to Black Friday on Nov. 25, welcome end of interim sales

‘Black Friday’, the next retail sales, will take place on November 25 this year and will include major offers, market representatives said, who also welcomed the end of the interim sales that used to take place in the beginning of November.

President of the Association of Businesses and Retail Sales of Greece (SELPE) Antonis Makris told Athens-Macedonian News Agency that “there are enough products, there are plenty of good price offers, and great competition in the market – we are all awaiting consumers to come and take advantage of the offers.” Vice President of the Athens Trade Association Makis Savvidis welcomed the end of the interim sales, a request of employer and consumer agencies who said that a huge sales period held prices high and did not serve either businesses or consumers. As Savvidis explained it, “it was noted that during large sales periods, businesses could not keep offering very good prices.” Black Friday, he added, “will provide some cash relief to businesses that will offer large price cuts, while consumers will have the opportunity to make their purchases ahead of Christmas at very good prices (…), both from their physical and electronic shops.”

Savvidis also noted that the Greek e-shopping operates in omnichannel mode at a rate of 85%, in other words the businesses offering electronic shopping also have physical stores consumers can visit.

According to a research report by EY on “Future Consumer Index Greece 2022”, two in three consumers (67%) plan to shop during the next sales event, a rate higher than the rest of the world (56%) and Europe (54%). Eight in ten (83%) are willing to wait for sales rather than buy now (against 52% globally), indicating they will spend more during the next sales. Of those questioned, half (53%) will spend nearly the same as other years, whereas 15% said they will spend more (for young people aged between 18-29 the rate is 26%).

EY Greece and CESA Supply Chain & Operations Leader Thanos Mavros told ANA-MPA that the coronavirus pandemic helped establish in Greece the use of and reliance on e-shopping, “with the result that the majority of consumers end up in ‘phygital’ choices. It’s obvious by now that the market is heading to an omnichannel model, since all age groups and social classes of consumers want to be able to enjoy the benefits of physical stores as well as internet seaches and purchases, together.”