Black Fri­day tripled ma­jor stores’ turnover

Kathimerini English - - Focus - DIMITRA MANIFAVA

Re­tail stores and chains that opted to of­fer spe­cial dis­counts on Novem­ber 25, Black Fri­day, have re­ported up to 500 per­cent in­creases in turnover com­pared to a reg­u­lar Fri­day at the end of Novem­ber.

The suc­cess of the adop­tion of this mod­ern US tra­di­tion by more Greek stores than in pre­vi­ous years was rather un­ex­pected, as it took place dur­ing a pe­riod when dis­pos­able in­comes have dropped con­sid­er­ably, while the per­for­mance of re­tail com­merce has oth­er­wise been dis­ap­point­ing since the start of 2016.

Re­tail­ers ex­plain that con­sumers dis­played symp­toms of re­tail fever on the day and in many cases ap­peared to be mak­ing pur­chases, no mat­ter how small, sim­ply be­cause prices were lower than usual.

Rep­re­sen­ta­tives of chains and de­part­ment stores spoke to Kathimerini about turnover in­creases last Fri­day of be­tween 50 and 500 per­cent, while on av­er­age the in­crease was es­ti­mated at 200 per­cent (i.e. con­sumers spent three times as much as usual).

In­ter­est­ingly, one lead­ing chain in the sec­tor of elec­tri­cal and elec­tronic ap­pli­ances, which of­fered dis­counts with­out ad­ver­tis­ing them as Black Fri­day of­fers, saw its sales not only break its daily record of the last 12 months, set on De­cem­ber 31, 2015, but ac­tu­ally rise to dou­ble that amount.

Many smaller stores were swept up by the mo­men­tum of Black Fri­day – even at the last minute. “Con­sumers in cen­tral shop­ping dis­tricts ap­peared to be more pre­pared than store own­ers, mainly due to the pro­mo­tional cam­paigns of the big com­mer­cial chains,” the Hellenic Con­fed­er­a­tion of Com­merce and En­trepreneur­ship (ESEE) said in a state­ment.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.