black friday, tatacliq, tata neu
ETtechSamsung, Amazon, Uniqlo and Domino’s were among several companies looking to turn Black Friday, yesterday, into another big sale day in India. Electronic goods and smartphone makers, ecommerce platforms, grocery stores, fashion brands, restaurants and cafes, multiplexes, hotels and malls clambered aboard the Black Friday bandwagon. Many are extending the sale period over the weekend to the start of next week or Cyber Monday, originally coined for ecommerce sales.
The signs seem to be encouraging for them. Retailers and malls said there was a 20-25% surge in footfalls and business by Friday evening and expected this will rise further over the weekend.
Nykaa said its sale (dubbed Pink Friday) reported a 12-fold jump in revenue on the first day (Friday) with 57% of the purchases made by shoppers in tier 2 and 3 markets. While brands and retailers offer discounts, companies said a 30% bump up in business from that on a regular day would make up for lower margins.
At Delhi’s Select CityWalk mall, footfalls were up 10% by early evening. “Friday is looking like a Sunday,” said CEO Yogeshwar Sharma. For apparel and shoe brand Woodland, business was up 20%. Reliance Retail expects the electronics business to double over the weekend, going by the response on Friday, an industry executive said.
Brands and platforms are hoping to create another consumption event on the lines of Republic Day and Independence Day sales that were launched over a decade back. Some retailers have been seeking to popularise Black Friday over the past few years.
“Marketers are looking at any excuse to create events by giving some discount as it works as a demand aggregator wherein Black Friday and Cyber Monday is their latest bet,” said Santosh Desai, social commentator and MD, Futurebrands Consulting. “These events create a consumer need. It’s how Republic Day, Independence Day sales or even a regional occasion like Akshaya Trithiya has been created as national sales day. Most of the MNCs already know Black Friday, so it’s easy for them to replicate in India.”
The day after Thanksgiving in the US—the fourth Thursday in November–traditionally marks the start of Christmas shopping, much like Navratri heralds the beginning of Diwali shopping in India. It’s the year’s busiest shopping day in the US and latterly Europe as shoppers hunt for bargains, with discounts and deals continuing till Cyber Monday. Shoppers are known to get aggressive as they scramble for early 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 rolled out Black Friday sales at Croma, TataCliq and Tata Neu. Spencer’s Retail, JioMart and several direct-to-consumer (D2C) brands had deals in grocery and daily essentials. Xiaomi, Lenovo and Dell also had Black Friday campaigns.
Others offering Black Friday deals include Uniqlo, H&M, Marks and Spencer, Adidas, Skechers and Puma; ecommerce platforms such as Myntra, Amazon, Flipkart, Nykaa and Freshtohome; restaurants and cafes like Domino’s Pizza and Baskin Robbins; retail chains like Lifestyle International, Shoppers Stop, Pantaloons, Vijay Sales, The Body Shop and Woodland; multiplex chain Inox; travel and hotel companies like Indian Hotels Co. which runs the Taj and Vivanta brands; Booking.com etc.
Chief executives said Black Friday helps boost sales since the weeks after Diwali are usually a dull phase until Christmas or end-of-season sales around then, and it also helps them improve cash flow by clearing out 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 the past few years to drum up consumption.
“It will become a big event in the next couple of years as the buzz grows,” he said. The company runs 120 electronics stores.

TECH NEWS RELATED

TikTok EU ban on the table if social network doesn’t comply with new laws

TikTok is one of the most popular social networks out there. But TikTok is also a cause of concern for western governments that worry about the company’s ties to the Chinese government. TikTok can’t run on most devices the US government issues, and there has been talk of a ...

View more: TikTok EU ban on the table if social network doesn’t comply with new laws

Don’t Buy a Foldable Until Samsung Brings This Prototype to Life

Samsung Display via The Verge The world of foldable phones is surprisingly stagnant. The Galaxy Z Fold gets a tiny little upgrade every year, and rival phone brands loosely copy Samsung’s homework. But a new Samsung Display prototype called the “Flex In & Out” could turn this narrative on ...

View more: Don’t Buy a Foldable Until Samsung Brings This Prototype to Life

Best free sports streaming apps in 2023

Cutting the cord on cable television is something tons of people have done over the past five years. But that hasn’t proven to be the smartest way to continue to watch sports. Whether it comes from premium sports website subscriptions to keep tabs on your favorite players, or even fantasy ...

View more: Best free sports streaming apps in 2023

Avengers 5 might have Ant-Man in it, Quantumania star teases

The first MCU Phase 5 movie will be Ant-Man and the Wasp: Quantumania, the third installment in the Ant-Man franchise and a film with much higher stakes than the previous episodes. The sequel will deliver the MCU’s first Kang (Jonathan Majors) villain after we met a somewhat good He Who ...

View more: Avengers 5 might have Ant-Man in it, Quantumania star teases

Sharing a Netflix Account? Get Ready to Pay For It

DANIEL CONSTANTE/Shutterstock.com Netflix is about to get serious in its efforts to eliminate freeloaders. If you share a Netflix account with family or friends outside your household, get ready to pay for it. A new “paid sharing” system could roll out starting next month, and you’ll have to pay a ...

View more: Sharing a Netflix Account? Get Ready to Pay For It

‘7 Wonders’ Board Game Gets a New ‘Edifice’ Expansion

Asmodee and Repos Production Board game lovers have a wonderful reason to celebrate today. Board game makers Asmodee and Repos Production announced their latest collaboration: 7 Wonders Edifice, an expansion to the popular board game 7 Wonders. The game launches on February 24th for $29.99. 7 Wonders: Edifice adds ...

View more: ‘7 Wonders’ Board Game Gets a New ‘Edifice’ Expansion

T-Mobile Kicks Off 2023 With Another Data Breach

r.classen / Shutterstock.com In a press release, T-Mobile confirms that it detected a data breach in its systems on January 5th. A “bad actor” managed to steal personal information (but not financial data) from around 37 million customers. This is the eighth T-Mobile data breach since 2018. The hacker ...

View more: T-Mobile Kicks Off 2023 With Another Data Breach

Apple appeals to UK competition watchdog investigation about mobile browser dominance

Apple has filed an appeal against the UK’s competition watchdog regarding its dominance of mobile browsers in the cloud gaming market, reports Reuters. The Competition and Markets Authority started investigating this dominance by the Cupertino firm and Google. Lawyers representing Apple believe the investigation should be reviewed as CMA ...

View more: Apple appeals to UK competition watchdog investigation about mobile browser dominance

Galaxy S23 Ultra release date and specs leak finally reveals everything about the new model

WhatsApp for iOS rolling out the ability to create a chat with yourself

Amazon Prime Music Unlimited changes streaming prices, now matches Apple Music

Deadpool 3 and Secret Wars to feature Fox’s X-Men, according to Marvel insider

Report: OLED iPad Pro still on track for 2024 release, 2026 for MacBook Pro

How to negotiate over practically anything

HomePod 2 praised in exclusive hands-on before launch

M2 Pro MacBook Pro Amazon preorder deal gives you $50 off

What “choice” means for millions of women post-Roe

Singapore FinTech firm Pilon secures $5.2M seed funding led by Wavemaker Partners

Capital Square Partners and Basil Technology team up for $700M tech fund in Asia

This feel-good movie about man’s best friend is dominating Netflix

OTHER TECH NEWS

Top Car News Car News