Black Friday- the craze begins

The Black Friday event which is widely popular among Americans is being celebrated today and the fever has not spared other countries as well.

Black Friday gained quite importance due to heavy discounts that retail businesses propose on the day preceding the Thanksgiving Day.

It also marks the beginning of Christmas celebrations with the haul of discounts that are offered to customers as an attempt to boost sales.

The wave of the U.S Thanksgiving has not let other neighbour countries such as Canada to benefit from it although Canadians celebrate Thanksgiving in October.

The reach of the Internet and online retailers maximise a lot on this season to make the most out of sales and online shopping have witnessed wide global acclamation.

Countries such as Costa Rica, Germany and even South Africa are part of the Black Friday celebrations.

In France, major hypermarkets are adopting the trend with ‘La Redoute’ slashing prices up to 55% on some of its products.

Coming to Sweden, online retailer CDON Group AB made an average of 1.2 million last year when it launched the Black Friday concept and for this year, the sales are even more ruthless. did a good work at spreading the Black Friday fever worldwide and successfully introduced the concept into its strategies.

Source: Bloomberg

Priscilla Camryn By: Priscilla Camryn