Black Friday and Cyber Monday: Retail Expects Slight Sales Decline - Black Friday 2024 Loses Momentum as Shoppers Still Hunt for Deals
Black Friday 2024 and Cyber Monday, once thriving shopping events, have witnessed a deceleration in sales growth in 2023 and a stagnation in 2024, as per a recent survey by IFH Cologne on behalf of the HDE. Despite this, consumers continue to be attracted to these events, particularly those facing economic hardships.
The survey, conducted in October 2024, polled 1,042 online shoppers aged 20 and above. It revealed that 48% plan to shop on Black Friday 2024, with 37% intending to shop on Cyber Monday. Notably, those 'just scraping by' exhibit above-average interest in these sales events, indicating that consumers are seeking bargains during challenging economic times.
Black Friday 2024 and Cyber Monday have experienced steady growth in consumer spending in Germany since 2016. This year, Black Friday falls on November 28, with Cyber Monday following on December 1. Interestingly, 54% of respondents plan to use Black Friday 2024 for Christmas shopping, compared to 42% for Cyber Monday.
Retailers in Germany anticipate a rise in sales at Black Friday 2024 and Cyber Monday events in 2025 or 2026, driven by high demand for attractive bundles and offers, especially for new products like the Nintendo Switch 2. As these action days gain popularity among consumers, retailers remain optimistic about their future.
