Expert explains Who benefits most from Black Friday bargains?
On Black Friday, retailers entice shoppers with discounts - but not every offer is a bargain. Marketing expert Felix Murbach explains who ultimately benefits from the mega-deals.
No time? blue News summarizes for you
- Black Friday helps retailers to reduce stock levels and strengthen brand presence.
- While targeted bargains are possible, one expert warns against price gouging and recommends comparing prices before and after the event, as real discounts are often limited.
- Although the event continues to attract shoppers, especially in brick-and-mortar retail, the hype has died down.
- Retailers should increasingly use digitalized strategies to remain competitive.
Bargain hunting on a grand scale on Black Friday, or just a clever rip-off? blue News talks to consumer behavior researcher and marketing expert Felix Murbach. He knows who benefits most from Black Friday.
Murbach studies the consumer behavior of the population. For him, Black Friday is one of the most exciting events. He explains that there are different approaches to the profit of Black Friday.
Black Friday lures customers back into the stores
For retailers, Black Friday is a double-edged sword. "In the short term, they can increase their sales and reduce stock levels," explains Murbach. At the same time, the day offers the opportunity to intensify customer contact and strengthen brand presence. A real success for those who take a strategically clever approach.
Impulse purchases are also a decisive factor here. "Consumers often buy products that they didn't even have on their shopping list," says the expert. Nevertheless, he warns against questionable price tricks: "There used to be a phenomenon where some retailers raised prices slightly in advance in order to then offer supposed discounts." In Switzerland, however, there are strict regulations, which is why this is no longer so easy. "Customers should still compare prices before and after."
Murbach also sees potential in the follow-up: "Customer loyalty is often neglected. A good customer relationship is built by thinking about the customer and not about profit. Retailers could say: come back next week, there'll be even more percentages." With a strategy like this, Black Friday definitely pays off for certain retailers.
Consumers: Thrill or price trap?
Consumers also benefit - at least at first glance. "You can buy products cheaper if you are specifically prepared for Black Friday," emphasizes Murbach. But the thrill of finding the best deal comes with risks: "Not all discounts are real bargains. Customers should take responsibility themselves and check whether the prices are really cheaper."
Because the risk of being disappointed lurks: "The most popular products are often not discounted. If you're hoping for a special offer, you might miss out." According to Murbach, the average discount in Switzerland is around 10 percent, as of 2023 - a far cry from the supposed "mega deals".
The Black Friday hype in Switzerland
According to Murbach, the initial hype surrounding Black Friday seems to have died down somewhat in Switzerland: "The day is still well attended, but not to the same extent as before." Nevertheless, it still plays a role in bricks-and-mortar retail in particular. "Many Swiss people appreciate the local shopping experience - a typical consumer behavior," says the expert. Instead of buying a product online, the Swiss prefer to go to the store to get advice.
Retailers are increasingly relying on social media campaigns and online teasers to lure customers back into stores. "Consumer behavior has changed dramatically. Today, customers google before deciding whether to go into a store or order online." This change certainly has a major impact on the success of a company. Anyone who has missed the digitalization train should hurry up, says Murbach. After all, it will be unimaginable to miss out in the future.
Black Friday as an opportunity for retailers
Black Friday remains a challenge - and an opportunity - for retailers. "The competition is tough. Retailers need to be more personalized and agile," says Murbach. Satisfied customers are the key to stable sales.
Those who adapt to the changed conditions can benefit from Black Friday: "If you do it cleverly, this day is a good option for getting ahead. But those who don't change will be squeezed out of the market."
How did Black Friday come to Switzerland?
- Black Friday, once a purely American phenomenon, has developed into a global shopping event in recent years. But how did this consumer frenzy find its way to Switzerland, and who actually benefits most from it - the bargain hunters or the retailers?
- Originally, Black Friday marked the start of the Christmas shopping season in the USA. On the Friday after Thanksgiving, retailers lured the crowds into the stores with huge discounts. The term "Black Friday" first appeared in the 1950s and was coined by the police in Philadelphia to describe the chaos and crowds in the city center, as "Ecofort" reports.
- In Switzerland, the first Black Friday offers appeared in 2007, initiated by small online stores. However, the big breakthrough only came in 2015, when Manor became the first major retailer to join in and achieved three times higher sales on this day than on a regular Friday.
- In the years that followed, more and more retailers joined in and Black Friday established itself as a permanent fixture in the Swiss shopping calendar. Offers from around 200 stores are expected in 2024.
