Black Friday turnover to break new records this year
Despite being a more recent event imported from the US, Black Friday is a huge success and according to research it gets bigger every year. However, stay vigilant and check that the offers are for real.
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By Bente D. Knudsen
In just a few years, the American concept of Black Friday has grown massively in popularity. From only 17 percent of Danes saying they would go shopping on Black Friday in 2015, in 2017 this rose to 42 percent, or almost 2 million Danes, an analysis made by YouGov for Nordea showed.
In 2017, Black Friday’s turnover of DKK 2,1 billion was already an all-time high (the highest Dankort turnover in one day), a figure expected to be surpassed in 2018, as a record number of Danes are expected to go shopping on 23 November, either in physical retail stores or in online shops.
In fact, the online sales are expected to grow by 25 percent compared to sales in 2017 an analysis made by FDIH ( the Danish association for internet trade) amongst its members showed. Amongst the association’s members, 73 percent said that they will be advertising Black Friday deals.
According to Danish consumer magazine Tænk, it is important to stay cool when a good offer appears on Black Friday and they have issued a warning to deal hunting consumers.
“The prices advertised as good deals may look like good deals, and often the advertisement also announces that only a few items are available at the exceptionally good offer.
But consumers have every reason to remain cool and take the time to think it over, even if it is an offer for a product they have been looking for. The price is not necessarily as good an offer as it says.”
Making sure that you are getting a good bargain, and are not just being lured into buying by the enticing SAVE 50 percent or more, is important.
In 2017, the Danish consumer watchdog, Forbrugerombudsmanden, warned three large retail chains that some of their 2016 Black Friday offers had been misleading or even deceptive; the prices offered on Black Friday were not real price reductions compared to the normal prices of the reduced products in the months and days before Black Friday.
For price reductions to be considered real, and not misleading or deceptive, the before price of the goods must have been in vigour for a longer period of time before Black Friday.
For instance, one chain offered an eiderdown for DKK 1,000 – supposedly a rebate of 50 percent, however, during the six months prior to Black Friday, it had been sold at DKK 1,500 and was repriced at DKK 2,000 only two days before Black Friday.
“It is not good marketing practice if the shops advertise larger price savings than what is really true. When you advertise a certain offer, claiming an important reduction on a certain day such as Black Friday, then the price savings for the consumer must be real.
If the consumer could have bought the product at the same price or even cheaper most of the time during the months prior to Black Friday, then the Black Friday price saving is deceptive and misleading.” Forbrugerombudsmand, Christina Toftegaard Nielsen, said at the time in a press release.
During 2018, a new set of guidelines have been issued to ensure that the retail trade offers are real price savings.
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If you want to be sure that the price of a product, which you want to buy, really offers an important price reduction, it can be good idea prior to Black Friday to check the price on sites which compare prices, such as for instance pricerunner.dk.
It is always a good idea to go online and check who else has the product on offer and at which price, Tænk and other consumer organisations advise deal hunting consumers.
Black Friday has become the start of the Christmas shopping season and many Danes take advantage of the price offers to do some Christmas shopping.
All of the large department-stores, such as Salling and Magasin, are promoting good offers and reductions on many items, and of course the DIY chains such as Silvan, Bauhaus, as well as furniture stores Ilva and BoConcept, EL Giganten, Bilka and more.
Most shops stay open from 10:00 to 22:00 or until midnight on the 23 November.
On-line shops are advertising Black Friday deals – starting of course just after midnight on the 22 November.
The general advice to consumers, from the web shops participating in Black Friday, is to prepare what you want to buy and be ready when the shops open their sale just after midnight.
Many web shops only have a limited stock of the selected items, so there is a first come first serve tendency.
In Denmark several sites give good advice and list web shops with offers, such as the sites blackfridaydanmark, blackfredagstilbud.dk and blackfriday.dk.
If you are going to one or more of the many shops and retailers participating in Black Friday, be prepared for crowds and remember not to let anyone watch you enter your pin-code when you make payments to keep your Dankort or credit card safe!
Pickpockets and criminals taking advantage are on the rise according to police reports.
Fake web-shops are unfortunately also a problem, however, there are a few simple ways to check the validity of a web-shop.