Friday is Black Friday, but it’s unclear how much European stores will benefit from the US shopping spree. This was reported by the credit insurance company Atradius, which looked at different countries. For now, the picture is looking rosy in the US only.
Credit Insurer analysts expect Dutch retailers to struggle with lower consumer confidence. They expect consumers to postpone large purchases as a result. Atradius expects sales to be disappointing compared to last year. The advantage of this is that unsold items will get a bigger discount in early 2023.
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German retailers also don’t expect to break any records on Black Friday. In Germany, the focus is probably mainly on electronics. Atradius believes that many entrepreneurs would like to sell their excess inventory at a deep discount. But there are also entrepreneurs for whom it is difficult to give a discount. The German retail sector, for example, is suffering from delivery problems and increasing costs.
High discounts in Spain and the United States
The credit insurance company expects massive discounts in Spanish stores. Spanish retailers have a large inventory. The expectation is that consumers will skip the expensive products, because Spain is suffering from inflation. Atradius believes that big discounts will be offered, because retailers want to sell their goods.
In the United States, according to Atradius, people are optimistic about Black Friday, despite the fact that there is also hyperinflation in America. Credit insurance company analysts believe that clothing will be the most popular. Discounts on clothing, shoes and accessories are at their highest level in three years.
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