A man with shopping bags hanging from her arm during Black Friday.
15.11.2022

Black Friday, Cyber Monday, Single Day... There are days when it's better to hide your wallet!

Created in the United States, Black Friday has slowly but surely become a reference for shopping enthusiasts around the world. Decryption.

 

It all starts with Thanksgiving.

On the 4th Thursday of November, Thanksgiving is celebrated in the United States. Originally a religious holiday in which people thanked God for the harvest, it is now a secular cultural celebration equivalent to a holiday for American families.

Everyone gathers around the table to eat the turkey and national festivities, including sports, are organized all over the country.

It is also the starting point for Christmas shopping. This is how the link is created with the day that follows, the famous Black Friday, a merchants' day where you benefit from advantageous conditions for your end-of-year purchases. 

 

Why Black Friday?

The etymology indicates a connection between the word Black and a time of high affluence, of a large concentration of people or vehicles. This sum of people or travellers materialises on exceptional days.

When the merchants' associations decided to organize a day dedicated to shopping at good prices, the term Black Friday was formed. The idea was to bridge the gap between Thanksgiving and the Christmas shopping season, allowing customers to take advantage of the exceptional conditions, which, in turn, caused a rush of purchases in stores.

We can also refer to the merchants who hope to make their best sales of the year and get their bank accounts out of the red. The money earned replenishes negative bank accounts and allows the numbers to be written again in black ink...

 

Le Cyber Monday !

Why stop there? True to the typical Anglo-Saxon principle of exuberance and excess and as a mark of recognition for our increasingly digitalized world, Cyber Monday was born!

If you put on Thanksgiving Thursday, Black Friday, weekend... You end up on Monday, which also serves as a platform for your shopping. However, the Cyber indicates an application of generous terms of sale only available online. If your credit card isn't burned yet, we'll tempt you one last time with slashed prices on your favorite products available on  digital sales platforms.

By combining Black Friday with Cyber Monday, we total hundreds of billions in sales around the world. What emanated from the United States is now a global phenomenon, even if the Covid pandemic has somewhat reduced the impact of these days dedicated to the retail trade.

 

Who cares in Switzerland?

Not at all; Many businesses are playing the game of exceptional discounts, both in shopping centre shops and on digital platforms. However, success is not as clear as in other countries and a slowdown has been observed in recent years.

In particular, studies have shown a certain degree of mistrust regarding the proportionality of discounts; discounts that cause a significant decrease in the margins of the brands concerned. "For the first time, some players have chosen to turn their backs on discounts," Credit Suisse analysts say, for example.

There is also a risk of cannibalization, as most Christmas shopping  is often already planned, with impulse spending being relegated to a minority of purchases. 

To put this in the context of global purchase values, sales totaled only 130 million in 2021, 30 million less than in 2020. A drop in the bucket.

A generational gap is also widening, favoring Cyber Monday more than Black Friday. Cannibalization also plays a role in this.

 

The Single Day... even for couples?

November is definitely dedicated to consumption. 

On November 11 or 11.11 celebrate at the number 1. The number of the individual, the solitary, the single. 

In China, single students tired of Valentine's Day decided to create a day celebrating celibacy. This day has grown and has become the platform for brands such as Alibaba or AliExpress to slash prices and encourage young people to buy online. 

In recent years, sales records have been broken and the success of this day of Chinese origin now extends beyond its borders. 

 

Flash sales like when your bank account is caught up in a deluge of spending.

Everyone loves a good deal. Slashed prices, limited-time offers, flash sales, promotions of all kinds... Everything is good to attract new customers and empty your stocks.

So yes, why not treat yourself? Might as well take advantage of it, right? 

Let us simply pay attention to the principle of necessity and capacity. Is this purchase really necessary? Useful? Do I have the means to make a purchase?

Simple questions and yet, our  credit cards and other fast payment methods go hand in hand with the immediacy of a so-called need to buy, an impulse purchase.

Indulge yourself but as with alcohol, consume in moderation.

 

Milenia.

As a leading Swiss financing platform, Milenia is now the partner of choice for thousands of customers wishing to access credit to finance their projects. 

Concerned about the well-being of our customers, we systematically aim for balanced credit, respectful of repayment capacities. 

We advise, guide and protect those who trust us to establish a responsible personal loan file.

That's why we feed our blog with reviews and articles on a variety of topics related to your finances, debts and related risks. This, straightforwardly, without any tongue in cheek.

If you want to finance a renovation project, buy a vehicle, support an entrepreneurial approach, pay for your studies or simply take advantage of purchases on a black-cyber-single-thanksgiving day... Trust us. 

We will be able to help you choose your partner bank, the duration of your loan and the best available rate. 

Milenia is simply that. People at the service of people.

 

 

 



Related articles

30.01.2022
Great things happen when people communicate well! This is the credo of Atolo, our partner that we are pleased to introduce to you.

Much more than a service provider, Atolo has become a partner of choice for Milenia. We present to you this company that is atypical in its approach and vision.

Read More …

17.01.2022
ompare credit offers. It has to be prepared, it has to be done calmly and it has to make sense.

When it comes to your money and a contractual commitment, there's no need to rush. Here are some tips to help you make the right choice.

 

What exactly are we talking about?

When you want to finance a project, there are various solutions available to you. Credit is a relatively simple financing tool, quick to execute and with a light administrative burden.

For further clarification, a credit is also called consumer credit, personal loan, loan, private loan, etc. This is a loan of a sum of money by a creditor to you, the debtor. The amount in question must be reimbursed within a time limit agreed between the parties. An interest rate is calculated in addition to the principal to be repaid in order to remunerate the services of the creditor, a bank in most cases.

As this is a form of financing that does not require a down payment or guarantee, the rate applied varies according to the amount borrowed, the quality of your file and the repayment period.

Financing platforms such as Milenia are used to offer the best rates on the market and to support you in your efforts. You don't pay anything for this service; The remuneration of these platforms is ensured within the framework of the agreements with the partner banks.

 

Before you compare, ask yourself two questions.

Is credit the right solution for my project?

Am I eligible?

The first question has the merit of judging the relevance and usefulness of your approach. As a responsible service provider, we put your interests at the heart of our attention. Over-indebtedness must be avoided at all costs and your loan must bring real added value and not represent a debt that is difficult to overcome.

Can your project be scaled back? Does your cash flow simply allow you to avoid taking out a loan? Is it the right time?

These are all useful questions that allow you to judge whether or not you need to move forward.

The second question is also important.

Your advisor will be able to support you in this reflection, but you can already eliminate some doubts:

Am I domiciled in Switzerland? If not, you will not be eligible.

Am I of legal age? If not, you will not be eligible.

Am I involved in an action filed in the debt collection? If this is the case, you will not be eligible.

 

One egg, one basket.

If you want to continue with a credit application, don't rush!

Above all, do not file multiple applications with different providers or banks.

Each request is logged and will block your access to a favorable response.

Compare, choose your financial partner wisely and, if the conditions are met, draw up your file with them.

To make a fair choice, take advantage of the service offered by a financing platform. It's online and it's easy.

 

Compare what, exactly?

The quality, the network, the accessibility and, of course, the conditions.

By quality, we mean the clarity of the information provided and the transparency of the platform. 

Are there testimonials from satisfied customers? Is there an independent quality body involved, such as Proven Expert? Is the team running the company clearly displayed? Is the company based in Switzerland?

As far as  the network is concerned, the quality and scope of the network will determine the quality of the offers offered to you. Check the partners page or search for published articles or the platform's blog if it exists. 

It is preferable to do business with a major player in the market that has serious, even exclusive, partnerships with recognized banks.

Accessibility. An online solution is often less time-consuming and just as relevant as if you went to an agency. However, it will be necessary to speak with an expert, go through your file in person and have live advice. 

Be sure that you will be able to access this service.

Lately, the conditions. The rates displayed on the various platforms are often similar. There are criteria to be met, however, and these often make the difference.

First of all, the process until you sign the loan agreement must be completely free of charge! Whether you visit a credit comparison platform or a financing platform, run away if you are asked for a single franc for so-called administrative or processing costs.

Secondly, do not sign anything when you are in a comparative or information-seeking process. Your file must first be well completed and analysed and it is only when you make a credit proposal following the acceptance of your application that you will have the opportunity to sign or not.

Finally, a 0.10% lower rate does not necessarily mean a good deal. All of this must be considered. The quality of your relationship with your advisor, the seriousness shown when drawing up your request, the choice of partners... Confidence and peace of mind knowing that you are in good hands is far more important than a tiny spread in the rate offered.

 

Do you have any questions?

We invite you to inquire via Milenia. You will have the opportunity to simulate your credit, learn about our solutions, get to know our team, ask your questions, browse through our customer testimonials and discover our articles on our blog.

Take your time, compare and when your choice is made, we will be at your side to carry out your project. Under the right conditions, with confidence and transparency.

Read More …

24.01.2022
Your online purchases. Our tips for a secure transaction.

Nothing could be simpler than completing a purchase on an online platform. It's convenient and fast. Be careful, however, to take the necessary precautions to avoid the nightmare.

Read More …

10.01.2022
Technology at the service of the user experience.

As a financing platform, Milenia works every day to continuously improve your user experience. Technology is an essential part of this dynamic.

Read More …

09.05.2022
Interview with Dominique Loparco: When enthusiasm and perseverance overcome the effects of an invisible disability.

Touching and sincere interview with our colleague Dominique, who was struck by an extremely rare disease and who, by dint of tenacity and the support of his loved ones, was able to overcome the constraints imposed by his disability. 

Read More …

Loan illustration: loan of CHF 10'000. Effective annual interests rates between 4.9% and 10.95% over a 12 month period lead to total interests of between CHF 261.80 and CHF 615.20. Duration: 6-120 months; Maximum annual interest rate (including all loan handling costs) 10.95%. Loans approval are prohibited if they lead to excess debt for the consumer. (Art. 3 LCD)

 

We use cookies to improve our services. By continuing your navigation on the site, you accept their use. More information here