The German Retail Association (HDE) has forecast sales worth around €3.7 billion on Black Friday and Cyber Monday this year, which corresponds to an 18% increase compared to the previous year.
Data from the HDE online monitor revealed that only 5% of German online shoppers are unaware of Black Friday, and Cyber Monday is known to more than 80% of those surveyed.
The survey, conducted by IFH Cologne on behalf of the HDE, interviewed almost 1,000 online shoppers between the age group of 20 and 69 years.
Deputy managing director of HDE, Stephan Tromp, said, "The growth rates for Black Friday and Cyber Monday will remain high as in previous years. The potential of the two promotion days has not been fully exploited."
A third of online shoppers are planning to take advantage of online offers on Black Friday, and one in five plan to do the same on Cyber Monday this year, data showed.
Black Friday and Cyber Monday have gained significance for the Christmas business in Germany, the HDE added.
The retail association expects Christmas shopping worth around €1.2 billion this year under these two campaigns.
"Black Friday and Cyber Monday have meanwhile gained a firm place in the calendar of customers and retailers in Germany. For many, the two days are the first highlight of the Christmas business," Tromp added.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.