This year's Black Friday may have been more organised than in previous years, but in essence it resembled a completely normal day for the market, retail and consumer associations have said, describing a market without any particular surprises, without queues, and without the big discounts that would justify the promotion.
Consumers did not see the big discounts they had expected, and both business owners and consumers themselves confirm that Black Friday is declining year by year, mainly due to its poor implementation in Cyprus, they added, in statements to CNA.
Lack of attractive offers, Koursaris says
The Secretary General of the Cyprus Confederation of Professional Craftsmen and Shopkeepers (POVEK), Stefanos Koursaris, noted that Black Friday this year was more "subdued," without the early start of previous years. Nevertheless, he said that offers ranged from 20% to 30%, i.e., the same level of discounts that one can find in stores all year round.
"There were no attractive offers," he noted, "while the biggest discounts were on older stock, which consumers noticed with disappointment."
He added that large branded chains kept this year's merchandise out of the sales, ahead of Christmas.
According to Koursaris, although shopping activity increased because "people had just been paid," continuous year-round discounts have destroyed the role of designated sales periods.
"People no longer expect a particular store to give them a big discount. Anyone who wants to can have a sale whenever they want," he said.
Legislative regulation is essential
Koursaris noted that POVEK has been insisting for years on the need for a legislative framework for discount periods.
"In 17 European countries, there are fixed periods. In Cyprus, tolerance leads to misleading practices, pushes, and stock shortages," he said.
At the same time, he pointed out that large shopping centers create conditions of unfair competition due to better infrastructure, parking facilities, extended hours, and greater promotional power, all at the expense of small businesses.
However, he said that despite the obstacles, small and medium-sized businesses have invested in specialisation, personal service, and online sales in order to retain their customers.
Asked to send a message to retailers ahead of Christmas, he urged them to "be honest," because, as he says, "the customer is not a number”, stressing that "real discounts maintain the credibility of the store."
"Many left without a bag," according to an initial survey by the Consumers' Association.
For his part, the President of the Consumers' Association, Marios Drousiotis, presented a slightly different picture. As he said, "this year's Black Friday was better than last year's."
Conducting a small on-site survey, as the Association does every year, at a large technology store, Drousiotis said that numbers "speak for themselves."
As he said, "in one hour, of the 135 customers who entered, only 30 left with a bag in hand, meaning that one in three who entered that particular store made a purchase."
He added that some customers "came in, didn't find the model they had on their list, and left within five minutes," noting that others simply browsed the store without a specific goal in mind.
Minor complaints, familiar pitfalls
Furthermore, asked if the Association had recorded complaints from consumers about whether the discounts announced were genuine, Drousiotis replied that the Association had recorded 6 to 8 complaints, half of which concerned "inflated prices" on the day of the discounts.
The rest, he explained, related to products purchased shortly before Black Friday and not covered by the exchange due to a lower price on the day of the discount, a practice - as he explained - that is not covered by the law.
"Black Friday is declining because of the sellers themselves," says Drousiotis
Drousiotis believes that "Black Friday is declining and the reason is that sellers are not offering the discounts that consumers expect," noting that many stores did not offer discounts on all merchandise, but only on selected items, with new products being excluded.
Asked how Black Friday could be made more meaningful and beneficial, Drousiotis said that larger than usual discounts, fewer misleading practices, and greater credibility from opportunists who tarnish the market are needed.
Tips for Christmas shopping
Asked to provide advice to consumers ahead of Christmas shopping and whether there are any "pitfalls" they should be particularly wary of, Drousiotis offered two basic tips.
He urged consumers not to buy a product they don't need, even if it's free, while also advising consumers to do their research before buying something.
"Sometimes the so-called discounted price is higher than the regular price at another store without a discount," he concluded.
(Source: CNA)
