Singles’ Day may be the biggest shopping day of the year but it has yet to really catch on in Europe.
Meanwhile, Thanksgiving may be a uniquely American holiday but Plymouth, Massachusetts’ oldest celebration is going global. The shopping frenzy that takes place the day after the turkey has been gobbled up, otherwise known as Black Friday, has spread across the Atlantic and beyond.
Now, Black Friday is seen as the biggest pre-Christmas sales event by retailers the world over. While turkey and pumpkin pie may not be universal, the love of scoring a good deal transcends borders.
Black Friday was virtually unheard of in Europe before the 2010s. Then the likes of Amazon aggressively marketed it and soon, other merchants started vying for a share of consumers’ wallets with tempting deals.
But is it possible that some are growing tired of participating in the retail madness and are jumping off the bandwagon?
In France, Black Friday first made its arrival felt in 2012 but it did not take off immediately. The French had to get used to the idea of shopping outside the legally designated summer and winter sales periods. But it has grown rapidly in recent years.
As consumers tend to go for higher value products on Black Friday, we looked at our luxury cosmetics and fragrances data to see the retail event’s impact on sales in France over the years.
Based on our data, 2017 appeared to be a breakout year for Black Friday in France, with a whopping 134% year-on-year (YOY) growth in sales. However, in 2018, YOY growth paled in comparison at 20%. What does this mean for Black Friday in Europe’s third largest economy?
Black Friday: Still Relevant?
There could be any number of reasons why Black Friday sales just aren’t growing as fast as they used to. While sales activity continues to peak on the day itself, retailers now tend to run promotions over an extended period to ease pressure on their operations. There is Cyber Monday, although the growth in ecommerce sales on Black Friday have blurred the lines between both.
In addition, the French have long loathed cultural imports, so it was perhaps no surprise when local online merchants developed their own response to Black Friday. “French Days” was launched last spring but it was so successful that it was held twice this year. With the most recent promotions in late September this year, less than two months before Black Friday, this could possibly be spreading consumer dollars thinner.
But there could be another force at play.
It was recently reported that more than 200 brands in France have decided to boycott the upcoming Black Friday sales as a response to the negative impact of rampant consumerism on the planet. Instead, they are calling for “reasonable consumption” in a bid to “make Friday green again”.
Are these retailers just losing out to competitors during this highly anticipated shopping event? Or is interest in Black Friday hitting a plateau in France?
Let’s see if Black Friday will be bigger than last year, as some predict. Or if the patriotic French prefer to embrace “French Days”, while starting a more sustainable tradition with “Green Friday”.