28 November 2022, Mumbai
Brands and retailers have been trying to create Black Friday sale events in India for the past few years.
Electronic goods and smartphone makers, e-commerce platforms, grocery stores, fashion brands, restaurants and cafes, multiplexes, hotels and malls have 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 e-commerce sales.
There was a 20 per cent to 25 per cent surge in footfalls and business by Friday evening and this was expected to rise further over the weekend. 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 to create events by giving some discount as it works as a demand aggregator wherein Black Friday and Cyber Monday are their latest bet.
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.
