Black Friday buzz: Brands hope for a bit of BLACK MAGIC to lift sales
Diwali sales season, companies selling cosmetics, shoes, apparel, electronics and premium packaged foods are trying to liquidate stock by leveraging the Black Friday frenzy that is slowly making its way into India.
Brands and retailers are offering discounts up to 50% at physical stores and on ecommerce platforms to push demand. Black Friday this year also coincides with salary payouts, which is prompting companies to sweeten deals to encourage consumers to spend.
“Consumer demand during the year was not wow. But we believe Black Friday will create another occasion for consumption aided by good weather in the North,” said Pushpa Bector, senior executive director and business head at DLF Retail that owns several malls in North India. Nykaa, Myntra, Blinkit, Amazon, Tata Cliq, Samsung, LG, Xiaomi, Puma, H&M, Adidas, Levi’s and Skechers are among brands and platforms pushing Black Friday sales
Black Friday, a concept originated in the US, is observed the day after celebrating Thanksgiving on the fourth Thursday of November. It is usually the busiest shopping day of the year in the US with businesses trying to clear unsold inventories before the year-end at significant discounts and promotions. In India, where it is a recently started trend, it is seen as an extension of the festive season sale events.
Electronics retail chain Vijay Sales director Nilesh Gupta said Black Friday is an effort by retailers and brands to liquidate unsold stock after Diwali, with discounts this year matching that of big sales events like
