Swedes are gearing up with their wallets for this year’s shopping extravaganza during Black Friday and the week leading up to it, known as “Black Week.”
According to a recent survey conducted by Svensk Handel, the turnover during Black Week is expected to increase by one billion from the previous year, reaching a staggering 9.7 billion Swedish kronor. This surge in spending is attributed to consumers’ price consciousness, leading to more planned purchases at discounted prices, as per Svensk Handel.
Maria Mikkonen, the chief economist at Svensk Handel, acknowledges the challenges the retail sector has been facing in recent years. “Black Week provides a significant boost, but it does not solve the ongoing challenges that the industry continues to face,” she notes.
Young adults aged 18-24 and 25-34 are the demographic groups most likely to participate in the shopping frenzy during the discount week, according to the survey. Fashion and beauty are the categories expected to experience the most growth in this year’s retail sector, while consumer electronics are anticipated to see a decline.
Black Week is set to take place from November 25th to 29th, culminating in the highly anticipated Black Friday sales event.
As the holiday season approaches, Swedish consumers are eagerly awaiting the opportunity to snag great deals and discounts on their favorite products. With the retail industry banking on the success of Black Week to provide a much-needed boost, all eyes are on how this year’s shopping extravaganza will unfold. Stay tuned for the latest updates and insights into the world of Swedish retail during the most exciting shopping week of the year.