Shopping days under pressure: Decline in sales on Black Friday?
The big shopping days in November are just around the corner, but with dampened expectations: According to the forecast by blackfridaydeals.ch, sales on Black Friday will fall to CHF 470 million, as a subdued consumer mood and upheavals in the retail trade are noticeable.
November brings the most important shopping days of the year for Swiss retailers. However, in the midst of a tense economic situation and structural upheavals in the retail trade, a decline in sales of around CHF 20 million is expected on Black Friday in 2024. This decline reflects the general reluctance of consumers, who are confronted with growing inflation and rising costs. Forecasts for the Swiss non-food retail sector blackfridaydeals.ch sales of CHF 470 million, with bricks-and-mortar retail under greater pressure than online retail, which is likely to increase its share by around CHF 5 million to CHF 120 million.
Online retail will benefit in particular on Singles' Day: with the new provider Temu and the strengthened presence of AliExpress and Shein, sales are expected to increase by CHF 5 million to CHF 65 million. In comparison, sales on Black Friday will be somewhat weaker overall despite the increasing importance of the online channel. The difficult market situation, insolvencies in bricks-and-mortar retail and the sale of Migros specialist stores have reduced the supply and dampened expectations of strong discounts.
Cyber Monday lags behind Black Friday, but remains stable with sales of around CHF 80 million. Electronics remain the key area, but without impetus from brands such as melectronics, growth in the non-food segment is dampened.
For seven years blackfridaydeals.ch a central platform for all Swiss offers on Black Friday, Singles Day and Cyber Monday. With over one million users last year, it is the most comprehensive overview for the bargain month of November.
