– Customers come in to try our products, to see if they fit. Then they like to come back during Black Week to buy, says Alexander Daviknes Bårdsen. He is sales manager at Anton Sport at Storo in Oslo. Trade has been slower this autumn. More people than before are concerned with what the goods cost. He says he notices that people are less able to afford it. – During the corona pandemic, sales of hiking equipment and clothing skyrocketed. Everyone should go out and do something sporty. It will be interesting to see how it will turn out now, when the economy is as it is. We hope for an amazing trade, says Bårdsen in Anton Sport. It is the chain management that decides what goes on sale and how big the discounts are. – But without a doubt there will be many bargains and good prices all over the year. The discounts must apply to all product groups. There will be a lot to pick up for those who fancy a slightly more affordable Christmas, he believes. Department store manager Danial Bhatti at Power på Storo says that many people would like to buy a large TV, but are more price conscious than before. – They wait for a good offer before they strike, he says. Photo: Johan B. Sættem Department store manager Danial Bhatti at Power på Storo says that many customers now spend more time before shopping – and examine what is a good offer and what is not. – The suppliers are now sitting with too many goods in stock. It is a good sign for consumers because you can then expect very good offers in the future. The suppliers must of course get rid of these to make room for the goods arriving next year, he says. A common move before discount periods such as Black Week is for stores to increase the prices of certain items in advance, so that the offers appear better than they might be. But services such as price hunting and the price guide on the internet can make it easier to follow the price history of the goods, and reveal such “tricks”. Predictions that Black Week could turn into Black Month Black Friday is this year on November 25, while Black Week starts a week earlier. But retail analyst Reidar Mueller at the consulting company Varde Hartmark predicts that the Black Week offers will start earlier than usual, because many stores have large stocks of goods, which they have to get rid of. This particularly applies to more expensive capital goods. Reidar Mueller, partner in Varde Hartmark, says that many who run shops are now having a tough time. – For some small shop drivers, this is quite brutal. They get a lower profit on the goods they sell, in addition to selling less and having increased costs. Thus, they are punished three times, says Mueller. Photo: Johan B. Sættem – There will be bigger discounts and more discounts on sale items. More people will buy their Christmas presents now in November in connection with Black Week or Black Month, which we will very likely experience, he says. – And you predict that the discounts will now be higher than ever? – Yes I believe. In order to reach consumers at all, you have to use increasingly higher discounts. It is a very tough battle for consumers’ wallets, he says. Mueller says that the industries that did best during the pandemic are now having the toughest time. The electronics industry, furniture, the sports industry and building materials, especially when it comes to expensive capital goods, he says. Historically low confidence in own economy Norwegians’ confidence in their own economy is at the lowest level ever. Interest rates are rising, electricity is expensive, and prices are rising more than at any time in the last 30 years. Much of the trade industry had good years through the pandemic, with new sales records. Many struggled to get hold of enough goods. Now the problem is too many items. At the same time that demand is falling, the shops are experiencing increased costs on all sides. – The pandemic years for our industry were very good. Everything was closed down and people chose to invest in their home. Many renovated, bought new TVs and kitchen products. They wanted to enjoy themselves at home. Now we expect a decline. The living room and kitchen cupboards are filled, says managing director Jan Røsholm of the Electronics Industry Foundation. The industry is now predicting a decline in sales compared to the pandemic years 2020 and 2021. But slightly higher sales compared to 2019, measured in kroner. NHO Handel og service predicts a decline in this year’s Christmas shopping compared to last year. At the time of writing, Virke had not come up with forecasts for the Christmas trade, but has predicted somewhat lower trade during Black Week than last year.
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Expect more offers and higher discounts during Black Week – news Norway – Overview of news from different parts of the country
