Black Week begins in Saxony: which products offer the biggest savings

Florian Reinke

Leipzig/Dresden. Discounts are tempting on every corner these days. Whether in technology retail, the fashion industry or perfumery - at the start of the hot phase of the Christmas shopping season, retailers are literally outdoing each other with discounts. Customers in Saxony can also look forward to a discount battle during Black Week, Black Friday and Cyber Monday. According to industry estimates, the availability of discounts is already high days before November 29 - the actual Black Friday.

As the comparison platform Idealo reported on request, it is currently recording a similar number of bargains as last year. The platform defines "bargains" as offers whose price is below the actual market value of the last few days - and not those whose discounts are based on the recommended retail price (RRP).

Many customers have too high expectations of discounts

Discounts are also likely to vary between product groups this year. For 2023, a price study by the provider revealed that the highest percentage discounts were to be found in the categories of speakers, advent calendars, electric shavers, televisions and running shoes. On average, consumers were able to save 13 to 15 percent here. "Good offers can be expected here again in 2024."

However, customers should not have too high expectations. More than half of customers expect discounts of 30 percent or more on Black Friday, explains Moritz Tybus, Partner at management consultancy Kearney, which published a recent study on Black Friday. In reality, however, the average discount is less than ten percent.

Consumer advice center: Don't lose control when chasing discounts

The expert advises consumers to take a close look when buying. "When it comes to discounts on individual products, it is important not to compare them with the RRP, which is often still advertised, but with the actual market price." Customers can monitor prices on online platforms over the long term.

The Saxony Consumer Advice Center also warns consumers not to lose track and control in the hunt for discounts. "Consumers should not allow themselves to be put under pressure to buy," says expert Micaela Schwanenberg. For example, retailers sometimes try to build up pressure by claiming that stocks are dwindling or that there is a time limit.

High turnout expected for "Black Friday" in Saxony

In Saxony, a high level of participation in the discount campaigns is also expected in bricks-and-mortar retail. The days surrounding Black Friday and Cyber Monday are no longer just an online retail phenomenon, says René Glaser, Managing Director of the Saxony Retail Association.

"As in previous years, many consumers are planning to use the campaign days for offline shopping. and online." The industry representative refers to a recent association survey, according to which almost half (46%) of respondents want to go bargain hunting on Black Friday, and a good third on Cyber Monday.

Compared to the previous year, however, the proportion of consumers who want to buy around the campaign days has fallen slightly. The experts at the retail research institute IFH see the rise of Chinese online retailers such as Temu and Shein as a key reason for this reluctance. According to IFH Managing Director Kai Hudetz, the importance of super discount days decreases "when other platforms offer permanently low prices all year round".

Retail sector lacks "major impetus"

However, the industry also has mixed feelings about the bargain days and the hot phase of year-end business for another reason. According to the Saxony Retail Association, the overall economic conditions remain very challenging with uncertainties, crises and cost increases. "With a comparatively high savings rate and increased price awareness among consumers, there is currently still a lack of major impetus for the retail sector," says Managing Director Glaser.

The steady upward trend in sales on Black Friday and Cyber Monday seen in previous years has weakened "and has come to a standstill this year - albeit at a high level." According to the association's forecast, the industry in Bavaria can expect sales of around 250 million euros on the campaign days. This would put revenue at around the same level as last year.

From a retailer's perspective, the discount battle also poses major challenges: purchases are being postponed and increasingly made on sale days, warns expert Moritz Tybus. Many retailers are therefore suffering from the concentration on this short period.

"Of the massive positive spikes of 150 to 200 percent in demand and sales in some cases, only around seven percent additional sales actually remain," he says. Consumers' focus on Black Friday leads to "a drastic drop in demand - around three weeks before and up to two weeks after Black Friday."