In the month of adults offers the market enters, with the Black Friday to be the peak of commercial activity before the festive season. Black Friday is no longer just a day of sales, but an economic and social “holiday” that lasts almost the whole of November, marking the start of the festive season and acting as a barometer for the purchasing mood of Greek consumers.
Businesses big and small are feverishly preparing for Black Friday 2025 (Friday 28 November), with deals up to or exceeding 50% off in a bid to capture consumer interest and boost turnover after months of sluggish consumption.
Consumers, for their part, look forward to the big sales, looking for bargains on technology, clothing, footwear, home appliances and cosmetics at significantly lower prices. Many do their market research early, comparing prices and planning their purchases, while others choose to take advantage of online deals to avoid the crowds of brick-and-mortar stores.
After all, Cyber Monday (Monday, December 1) which follows, strengthens even more the dynamics of online shopping, completing the commercial “marathon” of November.
8 out of 10 Greeks are preparing for smart shopping
Black Friday is now considered the biggest discount event of the year and is an opportunity for “smart shopping” for more than 8 out of 10 Greeks, according to the president of EBEP, Vassilis Korkidis. Already several weeks before the last Friday of November, consumers can find important offers and pre-purchase, with the peak expected in the last week of the month when Black Friday “meets” Cyber Monday.
The figures show that 4 out of 10 consumers take advantage of the sales season to shop for basic essentials at lower prices, 3 out of 10 look for branded products that they normally consider expensive, while 2 out of 10 shop for Christmas gifts. Finally, 1 in 10 see Black Friday as an opportunity to give themselves a gift, a small reward.
According to Mr. Korkidis, the purchasing movement is expected to move to last year’s levels, with approximately 3 million sales, an average receipt value of 100 euros and a total turnover close to 300 million euros. Globally, the turnover of Black Friday is estimated at 74 billion dollars, while in the USA alone it reaches 11 billion.
In the last three years, the Greek market has recorded a tripling of Black Friday turnover – from 100 to 300 million euros – and a doubling of online purchases compared to visits to physical stores.
As the president of EBEP notes: “Black Friday and Cyber Monday are a successful discount duo that are here to stay. Businesses are making an “early start” on black prices, extending the duration of their offers, while consumers have every reason to take advantage of this pre-holiday period for online and physical shopping.”
Optimism in business
For businesses, the Black Friday period is an important breather of liquidity. After a difficult time with increased costs and reduced consumption, deep discounts provide an opportunity to boost sales and create a new customer base.
Retailers are now investing more in their digital presence, customer service and flexible return policies in order to strengthen public trust. The optimism of the commercial world is strengthened by the data of INEMY-ESEE, according to which 81% of businesses participated last year, an increased percentage compared to previous years.
More than half of businesses (56%) reported moderate satisfaction with sales, while 5 in 10 recorded an increase compared to 2022/2023. In terms of traffic, 9 out of 10 were moderately to very satisfied. Almost half of businesses extended Black Friday over the entire week, while 30% only participated in the three-day period 11/29–1/12.
Most offers ranged from 21% to 40%, while over 1 in 3 businesses discounted their entire product range. At the same time, digital means of payment dominated transactions — just 1 in 10 businesses relied solely on cash. In communication, the shop window and email campaigns were the main promotion strategy.
According to Skroutz Marketplace data for 2024, the most popular shopping categories were:
- Home & Garden (35% of orders)
- Technology (31%)
- Health & Beauty (25.7%)
- Fashion (21%)
However, based on turnover, Technology (36%) was in first place, followed by the Home-Garden category (25%).
Accordingly, Public’s research showed that last year the top choices were smartphones, televisions, smart home appliances and gaming products. Installation services also saw increased demand, showing that Black Friday is evolving into a complete shopping experience, combining technology, convenience and entertainment.
The 35 – 54 age group remained the most active, however the younger, more digitally savvy generations significantly increased the shift towards online and mobile shopping. In 2024, mobile purchases reached a record 84%, while desktop purchases continued their mild decline.
Consumers are under pressure
At the same time, IOBE’s economic situation survey shows a weakening of consumer confidence in October. Specifically, the consumer confidence index stood at -47.6 points, compared to -45.6 points in September, with Greek consumers appearing as the most pessimistic in the EU. The individual indicators for the general economic situation in the country, as well as household finances, are deteriorating. In contrast, the intention to make major purchases is strengthening with saving, however, weakening slightly.
In more detail, consumers’ negative forecasts for their household’s financial situation over the next 12 months intensified in October to -44.2 (from -39.8). 58% (from 54%) of households expect a slight or noticeable deterioration in their financial situation, while 6% foresee a slight improvement. Consumers’ intention for major purchases in the next 12 months (furniture, electrical appliances, etc.) slightly strengthened with the relative index standing at -41.6 (from -46.3) points. 51% (up from 53%) of consumers predicted they would spend less or much less, while 6% (up from 4%) expected the opposite.
The index of the intention to save in the next 12 months fell slightly to -67.5 points from -65.9 in September. 84% of households do not consider saving possible in the next 12 months, while 15% consider it possible or very likely. Regarding estimates of the current household financial situation, the percentage of consumers who say they are “just getting by” rose to 60% (up from 65%), while the percentage of those who report drawing on their savings remained at 9%. Consumers who said they were saving a little or a lot made up 24% of the total, while the percentage of those who said they were “in debt” was 7%, up from 6% the previous month. In the question that assesses the degree of uncertainty of households regarding future economic developments, 59.4% considered in October that their financial situation can be difficult or relatively difficult to predict, up from 58.1% the previous month.