Black Friday is here and it’s the official day of the year that kicks off all Holiday shopping. However, a research released by Allianz shows that discounts and deals this year might not end up benefiting customers as they usually do in a Black Friday sale.

The study titled ‘A not so Black Friday for consumers’ suggests that goods are way more expensive this year and due to lack of inventory, the discounts and deals will apply to those same expensive prices instead of the regular ones people were used to. The publication states, “..we expect consumers to pay between +5-17% more for toys, apparel, appliances, furniture, computers, sporting goods and TV sets compared to 2020,”

Black Friday sales
yorkdispatch.com

Approximately, USD41bn goods are missing from US discretionary retailers. The paper suggests that this figure has been calculated by comparing current inventory levels and the long-term average against current sales. However, there is also an obvious positive focus on the current demands in discretionary goods. It is at an all-time high and inventories have not been higher in terms of dollar terms. Black Friday, however, intensifies that demand further, by slacking off prices.

Even if we look at the positives, however, consumers will feel the brunt of lesser discount ratios, as some do so much as waiting the entire year for Black Friday, to purchase some product(s) so they can avail themselves discounts on the day.

Some high-end products that require higher investment/cost will be even more expensive. Televisions, for example, will be 17% more expensive than they were a year ago. Since this is the first year many shoppers will be hitting stores on the day of, instead of shopping from home like last year, it will be an even more complicated truth to face for consumers.

For those interested to know, Walmart, Best Buy, Kohl’s, Old Navy, JCPenney among some others open sharp at 5 a.m., while Bed Bath & Beyond and Macy’s will do so at 6 a.m., followed by GameStop, Target at 7 a.m. These store timings are very important for shoppers as some lineup outside the doors since the first streak of dawn to make sure they don’t miss out on any offers from their favorite stores.

It is considered especially important since last year’s Black Friday was considered to be one of the quietest in decades. In addition, this last Friday also sets the trend for and affects many upcoming buying behaviours in December’s festive Christmas shopping. Consumers are entirely pumped for the day of discounts, and what will follow through in the Holiday season.