Black Friday sales to exceed Christmas

This year Black Friday falls on November 29, 2019 which means that it is aligned with many people’s pay day as well as just three weeks before Christmas. As a result, GfK predicts Black Friday this year will exceed all previous sales records.

In China, Singles’ Day falls on November 11, 2019 and is its most important promotion opportunity, generating tripled revenues compared to an average week.

Norbert Herzog, GfK expert for retail insights, said: “Both Black Friday and Singles’ Day are established events in the global retail calendar. Our research underlines that wherever they are based, people love a bargain and are keen to hunt out a deal. It’s important for shoppers that those deals are genuine.”

Consumers are spending more time researching purchases. According to GfK’s FutureBuy study, almost half ( 45%) of consumers in Europe say they compare prices more now than a year ago, with figures rising to 58% in Latin America and Turkey and 56% in Indonesia.

With Black Friday in particular, negative media coverage in some markets in the past has made shoppers wary of sales, discounts and promotions, encouraging them to spend even more time comparing prices before committing to a purchase.