When is Black Friday 2022?
This year Black Friday is on November 25, 2022. This is the tenth time that the day of action has been announced in German retail. In 2023, Black Friday falls on November 24th.
How long has Black Friday existed?
Black Friday has existed in Germany since 2012. The shopping event originally came from the USA. Thanksgiving is celebrated there on the fourth Thursday in November. The Friday that follows is considered a bridging day and has long been the day of the year with the highest sales – known as Black Friday.
There are many different stories about the origin of Black Friday. But it has been a tradition since the 1960s. In the USA, primarily retail stores used to participate. For online trading, there was the following Monday, Cyber Monday.
In Germany, however, customers primarily take these campaign days as an opportunity to shop online. A survey by the comparison platform Idealo shows that Black Friday is a virtual event for 94 percent of all respondents. But the retail trade also grants hefty discounts on these days.
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When is Cyber Monday?
Cyber Monday falls on November 28th in 2022.
How much do customers spend on average on Black Friday?
A survey by the management consultancy PwC shows that the planned budget for 2022 is an average of 289 euros. According to the survey, this is 6.6 percent higher than last year. The main reason given by those surveyed for the higher budget was the expectation that prices would continue to rise in the current year. That’s why they want to take the opportunity to get offers now. On the other hand, 59 percent want to cut back on their budget. 43 percent justify their savings measures by saying that they currently have less money available (2021: 30 percent).
What is different about Black Friday 2022 than before?
Black Friday 2022 is characterized by uncertainty. On the one hand, experts assume that high energy prices and inflation will dampen consumer sentiment on Black Friday this year. In the PwC study, four out of five bargain hunters stated that the current situation with rising prices is also affecting their Black Friday and Cyber Monday purchases. Nevertheless, many participants take the shopping events as an opportunity to spend more money.
“On the one hand, many people are currently rather cautious with their spending because they have less money at their disposal and the view into the future is characterized by great uncertainty. On the other hand, they want to make conscious use of the special offers around Black Friday 2022 because they assume that the price spiral will continue,” comments Dr. Christian Wulff, Head of Retail and Consumer Goods at PwC Germany, the study.
Black Friday was already overshadowed by a crisis last year. The legal security measures in the fight against the corona virus had significantly changed the shopping experience in the store. This was a particular burden for the brick-and-mortar trade.
In addition, global supply bottlenecks and major problems in the logistics chains, which are increasingly affecting German retail, continue to burden the markets. As a result, retailers have too few items in stock and the offers are quickly sold out. A concern shared by around a quarter of survey participants this year, according to PwC.
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First published: November 25, 2021 at 2:35 p.m