‘Black Friday’ sales up in Greece, online sales gain more

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.