Monday , January 25 2021

Black Friday 2018: Are the discounts on Black Friday really big? – Economy – Current economic and financial news



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Black Friday attracts many sellers with discounts. But most sales go to an individual company. And customers should be careful too.

That's the time again: Christmas business starts. The winter shopping season has been started for a few years by the Black Friday – English for Black Friday – and Cyber ​​Monday – which means as much as Monday online. Originally comes from the US and only have one goal: open the user's quarry with large discounts of up to 90 per cent in some cases. But is it worth the customers? Are the reductions actually as big as they appear? And why are so many vendors taking part in the shopping hype?

When is Black Friday and Cyber ​​Monday?

Originally, Black Friday was only a kind of transition day, as it always happened on Friday after Thanksgiving. This year, therefore, on the 23rd of November. Many American merchants took advantage of the opportunity that so many customers are free and therefore have time to shop, and send them into the stores with huge discounts. At some point, the retailers came online to the discount battle that was launched Cyber ​​Monday, where they also want to attract customers with high percentages to shop. Like so many, the great American traders came the two days to Germany a few years ago. Amazon even offers a lesser week this year, Monday, November 19 to Saturday, November 24th. But other traders have long moved forward.

Zalando, Otto, Media Markt, Saturn and various furniture stores – all there. Everywhere in the inner cities or on online platforms, everywhere the shops promise very low prices, of course, in the hope of getting so much selling cake as possible. And the money that customers want to spend on Christmas presents. Here's how Kai Hudetz explains. He is Managing Director of the Institute of Trade Research in Cologne and a specialist in online trading. "As this is not because the use is increasing, sales are just moving," he said. From the Internet to the Advent to the end of November.

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Psychological trick: why everyone wants to shop on Black Friday

And the strategy is probably working. It is estimated that trading on Black Friday only makes sales of 1.7 billion last year. Where does "trade" mean? Much of it may have ruined Amazon. "Online trade now accounts for almost every second euro on Amazon," explained Hudetz. Small traders, who may even run an internet-based internet shop, can not really stick to that, he says. "They can not win in the price competition. You need to find other strategies that have more based on service and service."

However, surprise of such discount days, which in fact without a historical background in Germany, is not working so well. As the days combine three things customers almost always jump to: "brands, discounts per cent and time limit," said Hudetz. Customers, they explain, are hunters.

And nothing is appealing to the hunting instinct as much as desired bargains. "And if the fall is still a percent, it's still pretty good in mind," he said. How much money was actually saved, however, it was much worse printing. The second point: Brand articles have been reduced. "Brands wake up aspirations, as everyone has an idea of ​​what it can expect from brand products," said the trading specialist. So, if they are cheaper, that's tempting. The third factor: the time limit. "The customer gets the feeling, if he wants to make a very good payment, he must now have access, otherwise he will lose something," said Hudetz. Who answers the question: Does the customer actually lose something?

These traps are lucky on Black Friday

Well. An analysis by Verbraucherzentrale Nordrhein-Westfalen shows that massive discounts are not as high as they appear. The companies would use the illegal price (EIA) recommendation as the basis for calculating. But often the articles cost less anyway.

This is confirmed by a Hudetz trade specialist. When investigating the user center NRW came out, for example, the promising discounts of 50 percent often came to 20 percent. That's why consumer advocates advise: Even with cheap offers, customers should compare the price. This is possible, for example, through price search engines in the network. There are often even cheaper offers on other sites. And they also say, "Do not be pressured. Closing bars show shrinking lists as a popular marketing tool."

Bargain hunters should consider something else: the shipping costs. That's what Michaela Rassat, a lawyer at D.A.S.-Leistungsservice, states. "These costs can increase the special price," he said. This is especially true when ordering overseas goods. "Customs fees can apply here," she warns.

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