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Black Friday revenues in Switzerland failed to live up to the retail industry's expectations. But sales throughout the week proved more successful.
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High street special offers on Black Friday on November 29 generated 5% fewer credit card and mobile payment transactions compared to the 2023 edition.
However, an analysis of the figures suggests an explanation: purchases were more spread out. In the days leading up to the event, spending reached unprecedented levels, according to data compiled by AWP from Monitoring Consumption Switzerland and Twint.
Many stores extended the promotional period to the week preceding Black Friday, this year from November 25 to December 1, and the operation was a success. Revenues were up 10% on Black Week 2023. Compared to a normal week in 2024, transactions were up by 92% for e-commerce and 44% for stores.
Although Black Friday is well known to Swiss customers and popular with Swiss retailers, the 2024 event produced mixed results.
“With the exception of consumer electronics, Black Friday sales were disappointing, particularly in fashion and home furnishings. Consumers turned out in force for the event, with a significant increase in internet searches and in-store visits, but did not always make their purchases. It’s clear that purchasing power is declining,” explains Jérôme Amoudruz, consultant and director of the Blackfriday.ch platform. He explains that between purchasing intentions and reality, there is a difference of around 20% less.
Stores profit from the event
While the importance of e-commerce has grown uninterruptedly for several years, card payment and Twint data show that in 2024 the penetration rate of e-commerce transactions during Black Friday week fell by around 1% compared to 2023. “Online shopping seems to be gradually reaching a kind of glass ceiling. This year, it was indeed stationary commerce that benefited more from the event. Perhaps because of its proximity to Christmas and the festive season,” explains Amoudruz.
Data from Monitoring Consumption Switzerland does not include cash transactions. Mobile payments taken into account are those transiting via Twint, Alipay and WeChat Pay. Applications such as Apple Pay, Google Pay or Samsung Pay are not included in the statistics.
Translated from French by DeepL/mga
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