It never fails, every Friday after Thanksgiving, storms of people full of turkey flock to department stores all over the United States in efforts to find the best bargains
Due to the economic downturn in the US economy, Black Friday sales have been declining, although due to slumping oil prices and larger discount incentives sales should have improved. Last weeks sales analysis stated the opposite.
Reasons?
The new “Grey Thursday” (Pre-Black Friday teaser sales) and the race to offer the largest and earliest deep discount has given customers the ability to shop earlier.
There has been a power shift in the complicated B2C relationship, customers now have the power. They have become more patient, waiting for the lowest possible prices and started monopolising profits by re-selling products at a premium markup or auctioning off their position in early morning queues.
How to beat the lines? Shop online! Online stores have been following suit and started slashing prices and pushing sales to the Monday following Thanksgiving, naming it “Cyber Monday”.
Luxury sales were not as successful as big box stores (ranging from electronics to fast fashion), with consumers claiming products on sale were dated or from last season.
Has this tradition hit the oh so fashion forward city of Milan?
Insiders stated that non-advertised discounts (ZARA -20%, BERSHKA -30%, MANGO -30%) were visible in store on November 28th. The secrecy of these sales is inevitable given the strict predetermined January and July sale periods.
Next year who knows, maybe Italy will make Black Friday into a luxurious secret shopping experience. We can’t wait to find out!
by Madison Hall Sikorski
