While the small shopkeepers’ association Povek argues that Black Friday in Cyprus has lost credibility with consumers, some retailers report better offers and a modest rise in turnout.
“This year, there has been an increased response from the public and greater popularity compared to previous years,” said Giorgos Pissis, marketing manager at the Mall of Cyprus.
“I think this is because stores have tried to offer more value and better deals,” he explained. “We have generally seen higher discount rates today, reaching up to 60 per cent.”
He added that retailers avoided stretching out their sales over a week or more, focusing their strongest offers on the day itself, with discounts across electronics, fashion, beauty, homeware, and even restaurants and cafés.
Povek, however, maintains that despite some activity, the event has strayed too far from consumers’ expectations.
Black Friday in Cyprus “has lost its credibility,” general secretary Stefanos Koursaris told the Cyprus Mail, saying it no longer resembles the short, high-discount sales seen abroad.
In its traditional form, he noted, Black Friday lasts only a day or two and features steep, time-limited offers, conditions he says are not being met locally.
He noted that, in its traditional form, Black Friday is limited to one or two days and marked by steep, time-sensitive offers, conditions he says are not being met locally.
Most discounts this year ranged between 20 and 30 per cent, falling short of shoppers’ expectations, with larger reductions mostly limited to older stock.
He added that many businesses hold back newer merchandise for the Christmas and New Year period, leaving Black Friday offerings relatively thin.
Koursaris also argued that the issue extends beyond a single shopping event, pointing to problems with the country’s wider discount system.
“We all know that in recent years anyone can put on sales whenever they want, some even stretch them out for 35 days a year,” he said. As a result, “the essence has been lost, the idea of encouraging the consumer to shop specifically during the discount period.”
He highlighted the association’s long-standing push for reform: “Where discounts are concerned, we as Povek continue to hold the position that there must be some form of legislation regulating sales periods. There may be two, there may be four such periods, but they should be set by law and apply to all businesses.”
Koursaris also emphasised the uneven impact of Black Friday on businesses of different sizes.
While smaller shops participate, large retailers remain the main beneficiaries. Bigger chains have “the power of advertising and the ability to buy large quantities of products,” enabling them to offer lower prices.
Koursaris argued that these advantages make oversight all the more necessary.
“I believe that these very large businesses should face stricter controls and full enforcement of laws on unethical commercial practices, misleading advertising, product returns, and their overall relationship with the consumer,” he said.
He criticised the leniency shown toward companies that generate profits in the tens or hundreds of thousands of euros yet face fines of only a few thousand.
“This situation does not benefit small businesses,” he said. “It benefits only the very large ones.”
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