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Greek "Black Friday" sales up versus a year ago

28 November 17 - RE+D Magazine
Greek

COMPANIES

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Savills

Consultant - GREECE

IBI Group

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Sales were up during this year's "Black Friday" in comparison with 2016 but the greater part of the commerce community has a negative view of this marketing practice for smaller enterprises, despite a positive impact on sales, a survey by the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) said on Tuesday.

 

The survey, based on a random sample of enterprises that participate in discount sales periods - such as clothing/footwear, home appliances, sports goods and toys - showed that enterprises offering e-commerce were the main beneficiaries of higher sales.

"Black Friday" had a positive impact on the volume of sales, with 'footfall' by a larger numbers of customers counterbalancing the discounts offered by shops.

Home appliances and technology item stores recorded the biggest sales, followed by clothing and footwear. However, the commerce community maintains a negative perception of this practice since it believes that larger entetrprises, multinationals and retail chains gain the most.

The survey showed that a large section of respondents said that Greek shops were better informed about "Black Friday" compared with last year, with sales rising. Enterprises offering e-commerce services - mostly electrical appliance stores- recorded a rise in turnover. Small shops, located in regional areas, made no gains through 'Black Friday' discounts.

Respondents also cited a need to offer discounts throughout the year, while others said that Black Friday was having a negative impact on the Christmas season turnover.

The survey showed that the majority of shops located in downtown Athens (80-90 pct) participated in the "Black Friday" event, with sales rising compared with last year. In Piraeus, the majority of shops participated (70 pct) this year, up from 40-50 pct in 2016, with sales almost unchanged from last year's levels.

In Thessaloniki, 90 pct of shops located downtown offered Black Friday discounts, while 60-70 pct of stores in Thessaloniki suburbs also took part.

Sales were unchanged, while the discounts offered were very small. In Patras, 85-90 pct of shops participated in the event (mostly big retail chains) and only 10 pct of smaller shops. Sales were up compared with 2016.

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