Black Friday: The market is numb - Retail representatives are cautiously optimistic

"This year's Black Friday coincided with a date when salaries for the month have not yet been paid"

Screenshot 1 10 Black Friday shopping

Speaking to KYPE, representatives of the retail trade expressed moderate optimism for commercial activity during today's Black Friday, at the same time emphasizing the improved framework observed this year and which is expected to benefit consumers.

The General Secretary of the General Confederation of All-Cypriot Organizations of Craftsmen Professional Shopkeepers Stefanos Koursaris stated that unfortunately in the past years the institution of Black Friday had degenerated to a certain extent, as discounts were shown several days and weeks before, with the result that Black Friday itself was negatively affected Friday.

He added that this year this phenomenon was not observed as the relevant advertisements started to appear this week, while he also characterized as positive the fact that this year there are no excessive or spectacular discounts of other years, since the discounts offered are real and concern new technology products of this season , which will help the consumer to make the right choices.

"The economic climate is not the best, with the prevailing precision and war in our region, and consumer sentiment is not bullish, but it is the start of the Christmas holiday season and we expect today to go well," he noted. about.

For his part, the General Secretary of the Pancypriot Retail Trade Association Marios Antoniou stated that on Friday morning there was still no increased traffic in shopping centers and shopping streets, adding that traffic is expected to increase after noon, with eyes on in technology products as well as in electronic and electrical devices.

He added that this year's Black Friday coincided with a date when the month's salaries have not yet been paid, but also with a period of time when the market more broadly is numb, people are quite restrained and go into very targeted purchases.

"Generally we keep a small basket, we are quite restrained, it is not only the climate with consumers recently and the numbness in the market. In previous years, unfortunately, even if it was on a small scale, some phenomena with unfair commercial practices have made the world much more suspicious and not consider that there are real discounts" he added, stressing that the link's position is any discount, even 15- 20%, it should be real, do not mislead the consumer in any way and the organized retail trade should do its self-criticism.

Asked if he has so far received information about problems and complaints from customers and consumers, Mr. Antoniou said that there have only been isolated incidents, single digits in number, and expressed the hope that everything will go smoothly and that no serious complaints will arise as in past years , either for misleading advertising, where the consumer could not find stocks, or for phenomena of increasing the initial price a few days before to make the scope of the discount appear larger.

He also highlighted the very good cooperation of the association with the Consumer Protection Service of the Ministry of Commerce, to which, as he said, PASYLE members sent guidelines for several weeks, indicating some very important points for the proper functioning of the market. "At the end of the day it is the consumer who judges us all and will either reward us or punish us," he added.

When asked how he thinks the market will move in the next period, in view of the upcoming festive season, Mr. Antoniou said that we are entering the most commercial month for all retail trade, whether in the food sector, or in clothing and footwear, whether in technology products, and in the month that judges the course of the year as a whole.

"We believe that regardless of any situation, people always make sure to buy their gifts, no matter how difficult it is to go out to the market, nothing will be missing from the Christmas table. We are optimistic about the Christmas season," he concluded.

Source: KYPE