According to estimates from the B2c eCommerce Observatory, in the days between Black Friday and Cyber Monday, Italians will spend around 2 billion euros online (+8% compared to 2022). On this occasion, particularly competitive operators will achieve up to 5 times the turnover of an average day. “There are two main considerations to make about this year’s growth rate” declares Valentina Pontiggia, Director of the Netcomm B2c eCommerce Observatory – Polytechnic of Milan. “For one thing, much of this increase is explained by inflation. Secondly, there is a lot of uncertainty about the real ability of some merchants to reach the set target: already in 2022 the forecasts for Black Friday have in fact proven to be too optimistic, with a final value that has reached 1.85 billion euros compared to a forecast estimate of around 2 billion”. The sectors most affected by these initiatives will be clothing, IT and electronics, toys, jewellery, perfumes, body care products, but also furnishings, food and wine products, ticketing for events and trips.
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Even in this period, traditionally very positive for eCommerce, the online channel, while continuing to grow at a faster rate than total retail, is less dynamic, closer to the trends of physical commerce. Online purchases, between 24 and 27 November, will in fact only grow by +8% compared to a CAGR (Compounded Average Growth Rate) in the last five years of +18%.
In Italy and abroad, promotional initiatives are not limited exclusively to the Black Friday weekend: extending the discount period is an excellent method to make these purchasing opportunities more effective for consumers and more useful for sellers: allows you to attract a growing number of users and distribute products over a longer period of time.
Compared to previous years, the promotional policies do not change: they vary from the fixed discount on the entire cart, to the percentage discount on one or the entire range of products, to the bonus for exceeding a defined spending threshold or to the offer of free shipping. In most initiatives, there are no more aggressive discount policies compared to previous years: from an economic point of view, the objective is not only to improve revenues, but also to preserve margins. “What distinguishes Black Friday in 2023 should be the greater transparency of information in price reduction announcements, with a view to consumer protection: this is in fact the first Black Friday in the era of the Omnibus Directive. The decree has introduced a series of new provisions for merchants regarding the indication of price reduction announcements during promotional campaigns and has enriched the list of unfair commercial practices” concludes Pontiggia.
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