Technology and electrical appliances are high on consumer shopping lists for another year with Black Friday (11/29) and Cyber ​​Monday (12/2) shopping.

As the clock ticks down, the big tech, electrical and electronics chains are leading the way in promotions by offering consumers a wide variety of products, unique offers that will satisfy every need and flexible payment solutions.

The advertising campaigns have already started, while the customers-consumers are continuously being informed via newsletter about the tempting offers and shopping opportunities. At the same time, the major retail players having strengthened their potential both in terms of points of sale and commercial agreements to further expand their product portfolio, claim larger shares of the market.

It is noted that in total the technology and electrical appliances industry (Tech&Durables) while there remains a market of around 2.1 billion. euros and is at the highest levels of the last 3 years, moving negatively in the nine months of 2024 both in value (at -6.1%) and in unit sales (-1.9%).

According to NielsenIQ analysts, decisive for these trends is the government action “Change Device”, which took place in 2022 and 2023, with the categories of large white appliances (MDA) and air conditioning (Air Conditioning) having been decisively affected , marking a negative course through 2024, -19.4% & -26.4% in values, respectively.

On the contrary, the telecommunications sectorwhich also constitutes the largest part of the T&D market in Greece (33.4%), shows the most positive growth, at +7.5% in value, while the next largest growth rate is shown by the large category of small household appliances (SDA), to +5.1%.

As gadgets serve different consumer needs, it seems that the ones that stand out and grow the fastest are convenience products, such as hand stick vacuum cleaners, products that may have been heavily promoted through social media, such as hair stylers, or even devices that support the healthiest way of cooking such as air fryers.

As far as the price part is concerned, the average price for the T&D categories continues the upward trend of recent years, also affected by external factors, such as inflation, the cost of production and transportation of products, but also by a continuing trend of the consumer towards more premium products.

As is the case every year, the big game in the Tech&Durables market is again this year in the coming months, as the last quarter of each year has the largest participation in T&D turnover, mainly due to Black Friday. Nikos Kampas, Industry Sales Manager of NielsenIQ points out: “based on the measurements of previous years, the week of Black Friday is more than double in sales compared to an average week during the year, while in the last 2 years it has increased in importance her. This fact demonstrates that this specific promotional action remains particularly important and popular for the Greek buying public on the one hand and that the duration of the promotional actions is getting longer and longer”.

According to Mr. Kamba, especially the premium products, where discount actions have a greater impact on the consumer’s pocket. “It is characteristic that in recent years the average price of the categories sold during Black Friday, such as smart phones, televisions or vacuum cleaners, is higher than the average price of the year, a fact that is interpreted due to the greater participating in the sales of premium products and brands during the said promotional event” he says.

Consumers and trade associations on hand

For their part, consumers have already started market research with enhanced psychology and consumerism, while mobile phones, televisions and laptops are coming under their microscope this year, as was the case last year. According to a survey carried out by Public, last year’s Black Friday Greek consumers “chased” offers on technology items. First in their preferences were televisions, followed by smart phones and phone accessories. Last year, women made up 52% ​​of the shopping population, while 48% were men.

The majority of shoppers on last year’s Black Friday were aged 45-54 (40.1%), while in younger age groups, such as 18-24, the participation rate was much lower, at just 6.1%. Most purchases were made from Athens (63%), followed by Thessaloniki (with 21%), Patras (with 4%) and finally Corfu (with 3%). 80% of purchases were made via a mobile device. At the same time, desktop purchases decreased to 17% (from 33% in 2022), while only 3% of consumers used a tablet device for their purchases. During last year’s Black Friday, consumers aged 65+ recorded the highest average spend, at €285 per purchase, followed by those aged 25-34 with an average spend of €248. Conversely, 18-24 year olds spent the lowest, with an average of €132 per purchase. Although the promotions and special deals started early, the main shopping activity took place on the day of Black Friday itself, confirming that the public waits for the day for the lowest prices.

On the occasion of this year’s Black Friday, which is considered the beginning of the Christmas shopping season, the president of the Athens Chamber of Commerce, Stavros Kafounis, calls on consumers who will shop on those days to support Greek small and medium-sized businesses. As noted in his statement, Mr. Kafounis: “The great offers that will appear in the stores are the result of hard preparation and great effort, with one and only goal: the satisfaction of the consumer, whose disposable income has been dramatically reduced by the precision of recent years.”

Also, the Athens Chamber of Commerce informs the consumer public that after an amendment to par. 1 and 4 of article 16 n. 4177/2013, the optional operation of commercial stores is allowed on the Sunday following the last Friday of November. This means that stores can optionally open on Sunday, December 1, 2024, which follows the last Friday of November, which is this year’s Black Friday, while December 2, Cyber ​​Monday follows.

Well, as the association notes, according to the recent amendment, shops can operate on all Sundays in December, except for that of December 8, with proposed opening hours from 11:00 a.m. to 6:00 p.m.

Along the same lines, the Piraeus Chamber of Commerce notes that the Piraeus market participates in the institution of “Black Friday” on Friday, November 29, 2024, as well as in “Cyber ​​Monday” that follows, on Monday, December 2. The Association invites consumers “to visit for their purchases the physical or online stores of Piraeus for a unique shopping experience. To trust Piraeus commercial businesses, which have proven over the years that they offer high-level service, quality and a wide range of products and real big discounts, and to combine shopping with unique dining experiences in the city’s restaurants and cafes.”

At the same time, it calls on consumers “to be careful, to have done the necessary market research, in order to avoid unpleasant surprises and have a safe and pleasant shopping experience, since there are not a few cases of misleading advertisements in this particular period of time that can lead to wrong choices”.

Also, the Piraeus Chamber of Commerce informs the consumer public that after amending par. 1 and 4 of article 16 n. 4177/2013, the optional operation of commercial stores is allowed on the Sunday following the last Friday of November. This means that stores can optionally open on the Sunday 1 December 2024 following the last Friday of November, with suggested opening hours for Piraeus 11.00 – 4.00 pm.