Black Friday is here again and the sale which has become a worldwide phenomenon began in 1952 in the United States. Retailers across the world have jumped on the Black Friday sale train as shoppers see the event as an opportunity to stock up on favorite items at good discounts.
Major retailers all over the world are leveraging on the Black Friday season to make the most of the season and they’re riding on the fact that shoppers have their shopping lists loaded and ready to shop at that time.
The tradition which began in the United States on the day after the Thanksgiving holiday has gripped everyone and duper deals and discounts have been unleashed all over the world.
According to Jharonne Martis, Director of Consumer Research for Thomson Reuters:
“The Black Friday weekend can either make or break a retailer, and this is mainly because it marks the beginning of the holiday shopping season, which is the biggest quarter in terms of sales and earnings for a retailer,” said
“So if consumers are not getting at least a 40-percent discount or higher, they’re really not getting a good Black Friday deal.”
Funny enough, the annual event was imported from the United States into the United Kingdom in 2010 by e-commerce giant Amazon and since then, it has traveled all around the world. In Nigeria for example, the first e-commerce companies (Konga and Jumia) launched in 2012 and they began their Black Friday sale in 2013 adding to the storied adventure of the day.
During the sale, shoppers expect to get as much as 90% discount off some most items so it is not out of place for many to be lined outside major stores in anticipation of a mega sale.
At Robinsons, shoppers have queued since the day before in a bid to not miss out on the sale as shown below:
At Walmart in Commack, New York, the lines to the registers/tills are winding even as at Thursday as shoppers didn’t want to be left out of the sale.
Many retailers have also extended their opening and closing hours in order to make some serious sales and to take in the fact that most shoppers are ready to make the most of the day. It is a normal occurrence for sales to drop in September and October as shoppers prepare for November when the Black Friday sale lifts off.
GlobalData’s Eleanor Parr says of the UK market:
“We expect more retailers to take part this year in an attempt to stimulate the waning demand they have faced over September and October”
It is also worthy to note that the bargain craze is moving away from brick and mortar businesses to online shopping therefore, more sales are going on over the internet.
One thing is sure though, Black Friday is here and there will be discounts galore!
Image Credit: Wikimedia