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Black Friday in Spain: A formula that works

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Black Friday is a commercial formula imported from the United States that inaugurates the Christmas shopping season. It is celebrated one day after “Thanksgiving”, that is to say, the fourth Friday of November. There is no unanimity on the origin of its denomination, why Black Friday? For some people, the reason is that this day refers to the time when the trades red numbers become black. On the other hand, others attribute the “black” qualifier to its use on November 19, 1975, by The New York Times, referring to the chaos that had occurred as a result of the “Thanksgiving” discounts.[1]

Nevertheless, its practice in Spain is more recent. In our country, Apple was the first to introduce Black Friday in 2010. However, it was not consolidated until 2012, when the realization of sales was authorized at any moment of the year. It was precisely in this moment when its practice turned viral. This tendency is major in department and multinational stores, whereas in small shops it is still timid.[2]

What is bought at the Black Friday?

According to the Cetelem Observatory 2018, last year the products that were most bought were, respectively, fashion (43%), appliances and technology (32%), mobile devices (31%) and footwear and accessories (29%). The following is a more detailed look at the products and services acquired in 2017 on the occasion of the Black Friday:Black Friday products- Dos Aguas BlogThe average expenditure for the Black Friday 2018 was €280, which implies 13% more than the previous year. 44% of consumers were in the spending range of between 100 and €300 (44%), while 18% stated they intended to spend between €300 and
€500, and 10% between €500 and €1,000.[3]

Black Friday and consumers

Consumers are one of the main elements in the design of the strategy to be used when it is about to celebrate the Black Friday. Because of that, the comprehension of the norms relative to the protection of the consumer is vital, as well as the work that the OCU (Spanish Organization of Consumers and Users) realizes on this matter. In fact, this organization monitor the prices of the products a month before Black Friday to analyze if the announced deals really constitute a discount. Among its main conclusions for this edition, during the week of Black Friday 37.1% of the products were cheaper than on the 23rd of October, and only 22.2% of them were more expensive than in the previous month.

In addition, the lowest prices were found in the sales of capsule coffeemakers, TVs and summer tires, while minor changes have been observed in small appliances such as fryers or microwaves.[4]

Do you want your Business to celebrate Black Friday?

Joining this trend is a guarantee of success, especially if you have an online store.  Indeed, 50% of consumers stated that they would make their purchases in this way against 12% that would do so in a physical store. From Dos Aguas Consulting we offer advice and resolve all queries you may have regarding Black Friday. We can turn Black Friday into your favorite day of the year!

Sources:

[1] Elena Sanz (2018) ¿Qué es el ‘Black Friday’?, Muy Historia. Available online (link) [Last accessed: 28.11.2018]

[2] El Periódico (16 de noviembre de 2018) ¿Qué es el Black Friday? Origen y desde cuándo se hace en España, El Periódico. Available online (link) [Last accessed: 28.11.2018]

[3] El Observatorio Cetelem (2018) El gasto durante el BLACK FRIDAY de los españoles, page: 9. Available online (link) [Last accessed: 28.11.2018]

[4] Organización de Consumidores y Usuarios (26 de noviembre de 2018) Black Friday 2018: ¿bajan los precios?, OCU. Available online (link) [Last accessed: 28.11.2018]