The start of the year is slow for most, but retailers have been busy preparing their shop windows and various discounts in recent days ahead of the annual New Year's sales, which kick off in Belgium today (3 January).
The 2024 winter sales begin on Wednesday 3 and end on Wednesday 31 January and are an eagerly-awaited time for shoppers and retailers alike, who hope to either secure a bargain or sell off surplus stock. Indeed, nearly half of all retailers have abnormally high stocks at this time of year, according to employers' organisation Union des classes moyennes (UCM).
As a result of these high stock levels, more than four out of five retailers (85%) will be starting the winter sales with a 30% discount, according to the Neutral Union for Independents (SNI). This represents an 81% increase on last year. At one retailer in five (22%) – mainly large chains – discounts will even reach 50%.
"I think the first week of the sales will be important. At the moment, if someone needs to buy something, they wait until 3 January!" Jean-Marc Englebert, from a shoe shop and secretary of the Shop'in Verviers traders' association told L'Avenir.
"In this first week, children are still on holiday. So there will likely be more people, especially on Saturdays. Finally, there's the weather factor: there will be more people in the shops if it's sunny than if it's raining."
Plummeting purchasing power
Despite retailers' "deep attachment" to the winter sales, the SNI also notes that some are calling for change. Nearly half of retailers (45%) would welcome a postponement of the winter sales until February.
For local businesses, there is unfortunately stiff competition from online retailers. Inflation is also having a significant impact on consumers. "We feel that purchasing power is terribly reduced. But for customers, there are always good deals to be found," Englebert said.
"If people wait until the last few days, there will be even bigger and better discounts, even if we don't earn anything on them. Don't forget that a 20% discount is the equivalent of a 41% reduction for us, including VAT. In other words, we make nothing on it."
In Belgium, retailers can only offer reductions under the name of a 'sale' (soldes) or an equivalent name twice a year. The annual summer and winter sales periods (January and July) are set by law.
Being sales savvy
Before launching into the shopping frenzy, it's important to be aware of scams and poor deals.
Consumer rights organisation Test Achats notes on its website that "some retailers have the unfortunate tendency to raise the price first and then give a discount, so that the final price during the sales is just as high as the base price before the sales."
To avoid this, the organisation recommends consumers to check the pre-sale prices and prices online, and even lift 'sales' labels to check the price displayed underneath.
If consumers find that the price displayed on the new label is higher than the one underneath, they can ask the seller to apply the reduction to the lowest price and lodge a complaint with the Economic Inspectorate.
