Corfu Traders Association: Let’s not leave Black Friday just to the multi-nationals

The Association said it can be a boost to the market, but that last year only the large multi-nationals took real advantage of it. “As you know, Black Friday is an American tradition - on the last Friday in November, which marks the beginning of the Christmas period in the USA, there are product discounts. Last year was the first time it was tried here and the sales were mainly in electrical and electronic goods.

Although Black Friday, which falls on 24 November this year, began in the USA, over the last few years it has become established internationally as a global business ‘celebration’. According to research by INEMY, the trial in Greece last year was successful as it contributed to an increase in the turnover of the participating businesses and stimulated the market, despite its proximity to the November sales period.

Given that it was mainly multi-national companies that participated in this promotional activity last year, we believe that we shouldn’t let the large companies monopolise it, but look after the small and medium sized businesses.

So the Association would like to encourage Corfu businesses to participate in Black Friday, with it being up to each individual businessperson to decide how to best take advantage of this business celebration. Those that decide to take part need to be careful as there are legal requirements regarding sales. Discounts can be up to 50% and the price before and after the discount must be clearly displayed in the shop and at points of sale. Optionally, the amount of the discount can be displayed.

We would like to invite customers to wander round the shops, taking a look at the discounts Corfu businesses are offering and to shop intelligently, whilst supporting the Corfu economy.”