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When is a Black Friday deal not a deal? When your company has already offered the same discount at an earlier date.
The consumer group Which? analyzed the prices of more than 66,000 products at U.K. retailers in the six months before Black Friday in 2022 to see how their Black Friday prices compared. Only 2 percent of products listed for sale during Black Friday in 2022 were cheaper than at other times of the year. What's more, 45 percent were advertised at cheaper prices at other times of the year. While consumers know that promotions come and go during any year, advertising a Black Friday "deal" at the same price as other times during the year could anger customers and have a negative impact on brand loyalty.
Looking specifically at products on Amazon, 69 percent were cheaper than their Black Friday price at other times of the year. This comes at a time when companies continue to shift their Black Friday discounts to earlier and earlier in the year. In 2023, Amazon started Black Friday sales a full week early on November 17.
Americans are still expected to spend big this holiday season. A November report from the National Retail Federation forecasts that holiday spending will reach record levels during November and December, between $957 billion and $967 billion. The bulk of that growth is expected to come from online shopping, which is projected to reach up to $273 billion.
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23.11.2023
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