BUSINESS

Christmas shopping on Black Friday?

TAGS: Economy

One in 10 Greeks will take advantage of Black Friday to do their Christmas shopping even though it is more than a month before the holiday, on November 24, according to a survey conducted by Deloitte.

The findings show that Black Friday, a recent import from the US, where stores offer discounts the day after the Thanksgiving holiday, has found fertile ground here given the increased interest in bargain hunting amid the financial crisis. It is no wonder then that the second biggest reason Greek cite for intending to spend more money this Christmas is retailers’ promotional offers.

Nevertheless, the average Greek intends to spend a little less this Christmas than last year: Deloitte found that the average budget for the holiday this year comes to 450 euros, against average spending of 457 euros in 2016. In fact Greeks tend to spend more than originally budgeted every year, surveys show.

Of the 450 euros each Greek intends to spend, 157 euros (35 percent) is seen going on food purchases, 136 euros on presents, 82 euros on traveling and 75 euros on entertainment purposes.

As for the top choices in terms of Christmas presents Greeks want to receive, they are clothes, food and drinks, and books.

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