The greatest celebration for people looking for deals is Black Friday. The day is always the first Friday following Thanksgiving. It will fall on November 25 this year. Is it really a day when we can save?
Brandly360 tries to answer this question. It is a tool that allows you to check the prices and availability of products on an ongoing basis. During last year’s Black Friday, which fell on November 26, Brandly360 analysts examined how the costs of various products fluctuated over time as well as how they appeared. When doing their analysis they considered the costs and promotions of the biggest chains in the country: Komputronik, RTV Euro AGD, Media Markt, Media Expert, Neonet, X-KOM, Neo24, Ole Ole, Avans and Electro.
In fact, using the majority of products as an example, Black Friday is a great time to save quite a lot of money. The household appliances sector saw the biggest price decrease, according to Brandly360. Refrigerators, washing machines, toothbrushes and irrigators, dryers, and washing machines – we paid less for these products on Black Friday.
A similar situation applied to tablets, soundbars, smartphones, and smartwatches. Black Friday was the culmination of brands’ special offers for their customers here as well.
Interestingly, the average price of monitors last year was the lowest at the end of October, a month before Black Friday. Smartwatches and soundbars kept their price, and the discounts were symbolic. The smartphone category demonstrates considerable price volatility. It fluctuated all through October and November. It is visible that prices increased two weeks before Black Friday, then dropped and reached the level from … the beginning of October.
– We frequently question whether companies artificially increase product prices before subsequently lowering them. It is challenging to provide a clear answer to this query. Remember that the final price consists of many elements. Our research allows us to conclude that a company doing this is incidental. There are definitely some product categories where this occurs more frequently than in others. These are, for example, smartphones, irons, and steam generators – comments Marek Kosno from Brandly360.
Producers and their prices
How did the various equipment producers operate leading up to Black Friday? Even though the costs of many goods decreased on Black Friday, different brands had varying pricing schemes. Samsung raised prices a week before Black Friday to lower them later. Apple kept the price of its products more or less constant, with the average lowest price in early October. Garret raised the prices of his products in late October and held them high for the next month. In the example of the iRobot brand, quite significant price changes can be noted. At the beginning of “Black Week”, their products were cheaper than on Black Friday! During two months, product prices have been lowered and raised at times. Customers must have been very lucky to take advantage of the cheapest offer.
Huawei products were also more attractive to buy at the beginning of November when their price was a few percent lower.
Is Black Friday the best opportunity for the cheapest shopping? In many cases, though as Brandly360 data shows, many brands offer their products at lower prices weeks before the bargain-hunters holiday.
BRANDLY360 is a comprehensive tool for tracking your brand promotion in e-commerce channels