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Black Friday comes with shortcomings

By George Lampiris

With significant changes but also the possibility of shortages, which will arise from global events that affect the market, this year will be held, as everything shows, this year’s Black Friday in Greece. At the moment, and according to market sources, shortages are occurring in both electrical and electronic devices. The main reasons for these shortcomings are related to the fact that the chips used in these devices are in short supply worldwide, while at the same time a dispute is underway between automakers and manufacturers of electrical and electronic devices over which industry will receive the most. chips to meet his needs.

Crucial is the current energy crisis related to China – a major country where appliances come from – which can currently cover only 70% of electricity production to meet its needs while buying the remaining 30% from Australia, which can no longer be picked up due to the trade war with the United States. In this context, China has reduced the production of factories, setting shifts on the basis of which industrial units operate to address the lack of availability of energy.

Priority shopping service

A major issue is also the fact that several companies decide to prioritize markets, depending on the size, financial strength or population of each of them.

To all of the above is added the lack of containers for the transport of products, while at the same time there are factory increases in combination with reduced production.

Expert: Supply of products already in the summer to meet the demand

Chains such as Expert, in order to address market shortages, have already placed orders since June to make some products available to the consumer. The CEO of Expert, Elias Papadopoulos, states in Capital.gr that “there will be the variety requested by the consumer, however it will be very limited”. He adds that “the problem is found in all categories, such as TVs, kitchens or washing machines. The exception is the category of air conditioning, because it is a product that is out of season.”

Black Friday this year, according to him, will be based on what its name implies. “We had circumvented the concept of Black Friday, which became Black Week, during which we sold everything. This year, however, stock products and abolished models will be available. One such example is the refrigerators, which, according to European Union law, As retailers, we owe it to ourselves that we have already scraped the old models. And those who have not done so now have the opportunity to do so now. “This year, any customer who has planned their purchases in time will have the opportunity to get what they need. However, the discount rate will be limited, with the exception of old goods that are in the companies’ warehouses and must be sold.”

At + 26% the total market in ten months

Overall, it is estimated that the market will run with reduced sales during this year’s Black Friday. At the same time, the total market for electrical and electronic devices is running at + 26% compared to last year at the ten-month level, according to GfK, which is expected to moderate in the near future due to shortages.

Elias Papadopoulos, CEO, Expert: People are already shopping for Christmas

“People are not waiting for Black Friday, but they are out shopping now for the Christmas holidays, because they think they will not find merchandise to buy then. Also, the uncertainty about whether we will have a universal lockdown or some restrictive measures has caused an unpredictable psychology to the consumer and therefore we can not figure out how he will react.There was an increased consumer mood throughout the decade of 2021, while some categories, such as air conditioning, helped during the summer. “Companies will show a decline anyway, because people have consumed a lot more in the past, having moved the office to their home, and so there is expected to be a normalization.”

Costas Gerardos, CEO and Vice President, Plaisio

“For our part, we have created stock of products to sell on Black Friday. However, there are product categories, such as laptops, that will not really offer significant offers, as they are a product in high demand lately due to the pandemic. , while their production is under pressure.Categories that show shortages are graphics cards.There are de facto, except that they are hard to find, there will be no price reductions.We all know that Black Friday will last a week. “What will give us a competitive advantage is the delivery time, as we have the ability to deliver the next day of purchase. The confidence that is created in the consumer the next day of Black Friday in terms of service will be crucial.”

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Source From: Capital

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