Every year, the pre-holiday shopping craze becomes more common and advertising campaigns encourage consumers to take advantage of unique promotions for Christmas and Epiphany. And Black Friday has become a benchmark for unmatched offers. Or so we think. A report by data analysis experts at ITMAGINATION has examined 6 popular product categories and have proven that big discounts during Black Week are mostly advertising slogans. Once again, the deep discounts turned out to be illusory rather than concrete.
According to the report, only a third of products had the lowest price compared to the last 3 months during Black Friday in November. On the other hand, the average prices of the most popular electronics and appliances on Black Friday were more than 8% higher than their lowest levels of the previous 90 days.
According to figures in the report, the prices of certain household appliances and electronic products were on average 3% higher compared to their lowest price in the previous month. The discrepancy between prices grows when we consider the previous 90-day period, where prices were higher in an average of more than 8% than the minimum price in the previous 90 days. Interestingly, the average advertised discount on products was less than 5%, with only 32% of all products reaching their lowest price compared to the previous 30 days. But they weren’t much shorter.
“We also noticed a similar trend of price movements during Black Week. Our analysis shows that average prices during Black Week were higher by 1.8% compared to the lowest price last month and more than 7% compared to the lowest prices seen in the 3 months leading up to the week. BlackWeek. If we take into account the minimum values of the weeks prior to the massive sales, Contrary to popular theory, there are no significant discounts during Black Week.
The data is not just from this year, the same thing happened in the past. In previous reports, ITMAGINATION specialists have taken into account 6 types of products (washing machines, refrigerators, laptops, printers, televisions, phones) that consumers have purchased during Black Friday and Black Week. Industry experts unanimously agree that Finding favorable deals requires extensive market research using historical price comparison websites..
In each of the 6 categories there were products from many manufacturers and in different price ranges, but all of them were selected as “popular”. Black Friday prices, Cyber Monday and Black Week were compared with a grtofico histeitherrich that covers a personYoode up to medium toñor prior to those dYoace. Analysts focused on comparing the current price level with the mYomood available on the aggregator in the perYoheard mentioned.
It turns out that the deep discounts during Black Friday and Black Week are mainly advertising gimmicks, the main purpose of which is to attract customers or liquidate inventory from previous seasons. To find good deals, you need to track prices during Black Week and not just during Black Friday and Cyber Monday, since half of the products analyzed were manipulated before this periodYoodo: the price of many products increasedeither before discounts were appliedthus canceling the discounts offered. According to the analysis, the largest price fluctuations occurred in printers and laptops, while the smallest price fluctuations occurred in televisions and phones.
“Thanks to advanced data analysis and artificial intelligence, today we can effectively and quickly study many market trends – the report states -. In the case of Black Week, Prices rose gradually during November and then fell again in the days of shopping rush”.