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Black Friday in Greece Attracted more Consumers Although Spending was Low

Greek consumers participated more in this year’s Black Friday sales than last year, but spent small sums in retail products; a survey by the Marketing Laboratory (MarLab) of the University of Macedonia showed on Sunday.
The survey; which aimed at recording the behavior and stance of Greek consumers towards the specific event organized by retail chains, showed that 44.5 percent of those questioned that shopped on Black Friday, had 78.2 percent of them saying that they shopped both from retail stores and online.
Another 15.3 percent said they only visited retail stores; while 6.5 percent went online.
49 percent of the Consumers paid mostly with cash versus 26.45 percent that used credit/debit cards. In terms of what they actually bought, the majority of consumers chose cosmetics, electronics and clothing/footwear.
However, most participants said they spent up to 50 euros (42.5 pct) on Black Friday, with only 6.3 percent saying they splashed out more than 501 euros.
The survey also showed that consumers were not impressed with the sales on offer; with 51 percent saying they were offered a mere 20-30 percent discount on the products they bought and only 9.8 percent saying they bought a product with a retail sale larger than 50 percent.
The majority 72 percent of the respondents said technology products had the highest discount.
Asked how they found out about Black Friday, most participants said they learned about it through social media.
Thirty two percent of those asked said they only learned about the event through social media while the second source of information was TV ads (10 pct).
As far as their knowledge of what Black Friday is, an overwhelming 61.5 percent of participants said they knew the event well or very well, while 12.8 percent said they did not know much or hardly anything about it.
The survey was conducted in the period 24-26/11/2017. The questionnaire was answered by 423 people, 37 percent of whom were men and 63 percent women.
In terms of age, 51.5 percent of the survey takers were between 18-24 years of age; 25 percent were between 25-35 years of age; 16.8 percent were between 36-50 years of age, and the remaining 6.8 percent were over the age of 51.
The sample was nationwide, coming from 34 different regions in the country.
Source: ANA-MPA

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