Although Black Friday has been present in Poland for a decade and has firmly established itself in marketing and shopping calendars, it no longer enjoys the same level of popularity as a few years ago. Poles are waiting to take advantage of pre-holiday bargains, but they set their own conditions. Experts comment on consumers’ attitudes towards prices, the number of transactions being made, and the budget allocated for “Black Friday” purchases.
Black Friday Tailored to Poland
Black Friday enjoys significant popularity in Poland, although not as much as in some Western European markets. Research conducted in 2023 by Boston Consulting Group indicates that about 85% of Polish consumers are aware of Black Friday – a number similar to those in countries like Germany and the UK, where awareness oscillates around 90-95%. However, the participation rate, i.e. the percentage of consumers who plan to make purchases that day, is about 35-40% in Poland. This is slightly lower than in Western Europe, where these values usually reach 50-60%.
“Poles show special interest in deals for higher priced goods such as jackets and shoes during Black Friday”, comments Sho Kondo, Managing Director at Kondo&Partners Consulting, a fashion&lifestyle consulting firm. “This year, due to rising inflation and more cautious spending, retailers will have to emphasize major discounts on high-demand products.”
Sho Kondo notes that in industries like fashion, online channels are the main engines of growth. Online fashion sales are growing more than 30% annually during peak shopping periods, like Black Friday.
Record Discounts or Record Number of Transactions?
Data from Autopay, the leader of the Polish payment market, shows that, last year, there were 64% more transactions carried out on Black Friday than other Fridays in November 2023.
“Additionally, their total value was 37% higher. Thus, the average amount of the transaction was lower. Comparing Black Friday to the other Fridays in November 2023 – the most popular payment method was BLIK.” (says Marcin Szczur, manager of Platforms & Marketplaces at Autopay).
Many Small Basket Orders
Although the appetite for shopping grows with Black Friday, the value of the purchases does not necessarily increase. According to annual data from Comfino, a payment solution available in both online and brick-and-mortar stores, the value of the shopping basket was on average 24% lower than in other weeks of the year, on the week before and the week following Black Friday.
Price Isn’t Always King
Not every retailer wants or can compete on price and make large discounts. This does not mean that they have to withdraw from promotional activities during the hot shopping period.
Will There Be No Christmas Shopping Fever This Year?
Although the last quarter of each year is usually the best for retail, the mood this year is cautious. The latest Central Statistical Office data shows that retail sales posted their worst results in September – the biggest declines in various categories in many months. The data on sales in November and December will reveal if consumers have regained their shopping optimism.
Source: https://managerplus.pl/duzo-i-tanio-jak-bedzie-wygladac-black-friday-2024-2024
