The sale sees brands offering substantial discounts throughout the weekend, sometimes extending to Monday known as Cyber Monday.
Black Friday sales are popular in the West and just like other trends from the region, has gained a lot of popularity across the globe, including in India. Black Friday sales came to India a few years ago and have now become a common practice for most retailers and shopping malls.
Black Friday has no negative connection or connotation, even though it consists of the word ‘black’ which is used to mark days which are to be remembered for tragic reasons. The word ‘black’ in Black Friday is thought to refer to retailers moving from the ‘red’ to the ‘black’. In this context, red denotes de cit and loss while black denotes pro ts.
Black Friday 2022
Last year, Black Friday sales globally broke records compared to 2021. In India, shoppers increased their orders by 65%, and spending rose by 64% during the sale week compared to the usual period. According to Admitad, a performance marketing-focused IT solutions provider, the three categories with the highest sales were apparel, home goods, and electronics. However, electronics sales declined significantly in 2022.
Amidst a significant boost in foot traffic and revenue, shopping malls face significant operational challenges in hosting Black Friday Sales. Malls must prepare for everything, including inventory management, logistics, security, and overall mall operations.
Expectations This Year
This story is from the December 2023 edition of Images Retail.
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This story is from the December 2023 edition of Images Retail.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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