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12° Nicosia,
05 February, 2023
 
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What do Cypriots buy on Black Friday?

The sales champions - What do Cypriots expect to buy on Black Friday every year?

by Andreas Kokkinos

Only eight more days until the much-anticipated Black Friday shopping day, and ads for discounted goods continue to pound the public.   Every year, many people look forward to this day in order to find the best deals on products they need. But which products capture the lion's share of the shopping public's minds - and baskets?

People were mostly interested in purchasing TVs, mobile devices, tablets, game consoles, and robotic vacuum cleaners during last year's promotional period.

One glance at brochures or in stores reveals the consumer 'orgasm' that is taking place. People are attempting to secure certain products at significantly lower prices as the clouds of scarcity thicken over households, with the so-called "Black Friday" being marked on the calendar.

Robotic vacuum cleaners along with electronics, technology, and fashion

Despite the retail sector's widespread participation in the sales race, electronics and technology products get their due every year on this day. According to the Secretary General of the Pancyprian Retail Trade Association in "Kathimerini," there is a lot of interest in televisions, mobile devices, tablets, and game consoles, with a lot of interest in robotic vacuum cleaners last year. The reason for the concentration of purchases in this sector is that they are more expensive and that new models are constantly being released, giving the retailer more room to pass along discounts to the public. Clothing products come in second place in terms of preferences by a wide margin.

The World Cup will be watched on TV screens nationwide

But how much will the price increase impact purchasing activity? The landscape appears hazy, with retailers waiting to see how the public will react. Indeed, there were restrictions in the two previous years due to Covid-19 (lockdown in the first year, with Safepass in the second), and the sample was not considered a good representation. As Mr. Antoniou mentioned, the move of the World Cup soccer tournament to winter (beginning November 20) will likely result in a larger surge in TV sales.

How far will discounts go?

Discounts typically range between 20 and 40%, with larger discounts reserved for limited stock or older products. Because the market is small, the level of discounts seen in, say, the United States is limited. A shield to keep customers safe from offers that... are not expected to be a more stringent legislative framework that binds retailers. To be considered "on-sale" under the new legislation, a product must have retained its previous price for at least 30 days.

[This article was translated from its Greek original]

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