The signs seem to encourage them. Retailers and malls said there was a 20-25% increase in footfall and business on Friday night and expected that to rise further over the weekend.
Nykaa said his sale (dubbed Pink Friday) reported a 12-fold increase in revenue on day one (Friday) with 57% of purchases made by shoppers in Tier 2 and Tier 3 markets. brands and retailers are offering discounts, companies said a 30% increase in business compared to a normal day would make up for lower margins.
At Delhi’s Select CityWalk mall, footfall increased by 10% in the early evening. “Friday feels like Sunday,” CEO Yogeshwar Sharma said. For the clothing and footwear brand Woodland, business grew by 20%. Reliance Retail expects electronics business to double over the weekend, based on Friday’s response, an industry executive said. Brands and platforms are hoping to create another consumer event modeled on the Republic Day and Independence Day sales that were launched more than a decade ago. Some retailers have sought to popularize Black Friday over the past few years.
“Marketers are looking for any excuse to create events by giving discount as it works as a demand aggregator in which Black Friday and Cyber Monday are their last bet,” said Santosh Desai , social commentator and MD, Futurebrands Consulting. “These events create a need among consumers. This is how Republic Day, Independence Day sales or even a regional occasion like Akshaya Trithiya was created as a national sales day. Most multinationals already know about Black Friday so it is easy for them to replicate in India.
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The day after Thanksgiving in the United States, the fourth Thursday in November, traditionally marks the start of Christmas shopping, much like Navratri heralds the start of Diwali shopping in India. It’s the busiest shopping day of the year in the US and more recently in Europe as shoppers hunt for bargains as discounts and offers continue through Cyber Monday. Shoppers are known to get aggressive when jostling for the first bargains at opening time.
Samsung launched its first Black Friday sales this year in India. The country’s largest retailer, Reliance Retail, ventured into Black Friday with its Reliance Digital and Ajio platforms. The Tata Group has launched Black Friday sales at Croma, TataCliq and Tata Neu. Spencer’s Retail, JioMart and several direct-to-consumer (D2C) brands had deals in groceries and daily necessities. Xiaomi, Lenovo and Dell also held Black Friday campaigns.
Other Black Friday deals include Uniqlo, H&M, Marks and Spencer, Adidas, Skechers and Puma; e-commerce platforms such as Myntra, Amazon, Flipkart, Nykaa and Freshtohome; restaurants and cafes like Domino’s Pizza and Baskin Robbins; chain stores like Lifestyle International, Shoppers Stop, Pantaloons, Vijay Sales, The Body Shop and Woodland; Stainless steel multiplex chain; travel and hotel companies like Indian Hotels Co., which manages the Taj and Vivanta brands; Booking.com, etc.
CEOs said Black Friday helps boost sales since the weeks after Diwali are usually a boring phase until Christmas or the end of season sales around this time, and it also helps them improve cash flow by eliminating unsold Diwali inventory.
Vijay Sales Managing Director Nilesh Gupta said brands and retailers have been trying to create Black Friday sales events in India for a few years to boost consumption.
“It will become a big event in the next couple of years as the buzz builds,” he said. The company operates 120 electronics stores.
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