Retailers are hyped over their Black Friday sales campaigns, hoping to see their return take off after two years of COVID restrictions, with all bets placed on the World Cup feel-good factor.
This year’s Black Friday falls on 25 November, coinciding with the 2022 FIFA World Cup, which starts on 20 November, as the tournament will be held under the hot Middle Eastern Qatari sun.
The World Cup, held every four years, always takes place in the summer, when there is no action in most leagues across the globe.
However, this time round, the organisation of the tournament was awarded to Qatar, where temperatures in the summer are far from ideal for football matches.
In comments to the news site Stockwatch, the general secretary of the Cyprus Retailers’ Association, Marios Antoniou, said that businesses are preparing their sales campaigns, with electronic device stores particularly optimistic over this year’s potential.
“Experience has shown that when there are big football matches or a tournament, sales of televisions increase steeply, so the timing this year is very favourable.
“This will be the first time the world cup coincides with Black Friday, and we are looking forward to seeing the outcome,” said Antoniou.
He said retailers expect the sales of tech gadgets to do particularly well, especially tablets, smartphones, and video gaming consoles.
“Last year, we also saw robot vacuum cleaners and similar house appliances do particularly well compared to previous Black Friday campaigns.”
He advised the public to do their homework, comparing prices between stores and pre-sale prices to get the best deal before coming into the stores.
Although Black Friday is usually more beneficial for tech gadgets, supermarkets do not feel left out.
Andreas Hadjiadamou, the executive secretary of the supermarket association, said their businesses would be jumping on board with “generous” offers on some electric appliances and home furniture sold at their stores.
“Black Friday campaigns usually last for a week in Cyprus, allowing us to offer better prices on many other commodities,” added Hadjiadamou.
Meanwhile, the Consumer Association is warning the public to be wary of campaigns, noting that Black Friday offers, in most cases, do not differ much from seasonal sales campaigns.
The association’s legal advisor Virginia Christou said: “In previous years, we have received complaints about ‘sales’ price tags on commodities that essentially did not differ from those they were carrying a week earlier.”
“Based on the Consumer Protection (Amendment) Law of 2022, businesses must maintain the product’s price for at least 30 days before adjusting the price for a sales campaign”.
She warned that “strict controls will be in place on Black Friday to ensure retailers are not making price changes daily to deceive consumers”.
It is recommended that consumers conduct their research beforehand, especially on more expensive products, and be informed about the store’s return policy.