Black Friday banging on Hungary’s doors

Retail

There is no better time to secure pre-Christmas savings than on Black Friday, which is actually spread across two different Fridays in Hungary, and getting bigger by the year.

The most telling sign that Christmas is around the corner is the surely the Black Friday campaign. Strangely, in Hungary, two days actually fall under that name, since retailers couldnʼt agree upon one single date. So, depending upon the choice of the retailer, it is either November 18 or November 25.

Extreme Digital, the countryʼs biggest online webshop, went for the former date and said its experience exceeded all expectations. “Revenues of that single day surpassed those from last yearʼs event by one-quarter, with average spending accounting for more than HUF 35,000. Top buys included smart phones, game consoles and, to the surprise of many, state-of-the-art dryers,” an E-digital press release says. Samsungʼs UHD TV sets also sold well.

E-digitalʼs statistics would seem to justify the existence of such campaigns: 72% of visitors were new to the website and had never ordered through it before, which clearly confirms that Black Friday has become a very effective marketing tool.

Those interested in hefty bargains had better keep their eyes open. In some cases stores inform their customers in newsletters about key details of their deals, but on many other occasions chief marketing officers remain tight-lipped about the specifics until the very last minute.

Some even unleash the craze as of midnight, and in order to handle the unusually heavy traffic, sub-pages are set up that are specifically designed for this purpose. EMag, another major online webshop, said it witnessed 1.7 million visits last year alone, with four out ten coming from mobile devices. Their recommendation to bargain hunters: download the EMag app since it features an easy-pay button, which can get you through a lot of uncomfortable typing in one go.

Black Friday is gaining in popularity by the year. According to a survey by Media Markt and NRC, two-thirds of adult internet users have heard about the event. This year, 27% of those surveyed said that they will probably go for a consumer electronics goods deal. By contrast, in 2015 all product categories registered less prior buyer intention. More than half of the respondents said they would like to get something for themselves, which suggests that people donʼt only have Christmas in mind on this occasion. Planned spending varies, but 53% said they would keep their budget under HUF 20,000.

Even though the Black Friday deals are generally valid for one day or as long as stocks last, whichever is shorter, some vendors will extend that validity period. Magyar Telekom offered bargains for three full days starting on November 18, and other firms have similar policies. So it is worth checking bricks-and-mortar stores and online websites for prices even after November 25, as some deals may be still up for grabs.


ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.