Egypt's CBE expects inflation to moderate in '24, significantly fall in H1-25    Egypt to host 3rd Africa Health ExCon from 3-6 June    Poverty reaches 44% in Lebanon – World Bank    Eurozone growth hits year high amid recovery    US set to pour fresh investments in Kenya    Taiwanese Apple,Nvidia supplier forecasts 10% revenue growth    EFG Holding revenue surges 92% to EGP 8.6bn in Q1 2024, unveils share buyback program    Egyptian military prepared for all threats, upholds national security: Defence Minister    Philip Morris International acquires 14.7% stake in Egypt's largest cigarette maker Eastern Company    Gold prices slide 0.3% on Thursday    US Biogen agrees to acquire HI-Bio for $1.8b    Body of Iranian President Raisi returns to Tehran amidst national mourning    Egypt secures $38.8bn in development financing over four years    Palestinian resistance movements fight back against Israeli occupation in Gaza    President Al-Sisi reaffirms Egypt's dedication to peace in Gaza    Egypt to build 58 hospitals by '25    Egypt's Health Minister monitors progress of national dialysis system automation project    Giza Pyramids host Egypt's leg of global 'One Run' half-marathon    Madinaty to host "Fly Over Madinaty" skydiving event    Nouran Gohar, Diego Elias win at CIB World Squash Championship    Coppola's 'Megalopolis': A 40-Year Dream Unveiled at Cannes    World Bank assesses Cairo's major waste management project    K-Movement Culture Week: Decade of Korean cultural exchange in Egypt celebrated with dance, music, and art    Empower Her Art Forum 2024: Bridging creative minds at National Museum of Egyptian Civilization    Egyptian consortium nears completion of Tanzania's Julius Nyerere hydropower project    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    Swiss freeze on Russian assets dwindles to $6.36b in '23    Prime Minister Madbouly reviews cooperation with South Sudan    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Amal Al Ghad Magazine congratulates President Sisi on new office term    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's Black Fridays
Published in Ahram Online on 26 - 11 - 2019

Today marks the last Thursday of November, which is the Thanksgiving Day holiday in the US. In both the US and Europe, shoppers may also have long to-buy lists ready for tomorrow, with early birds planning to be in front of shopping malls first thing in the morning to take advantage of the Black Friday sales.
In Egypt, thousands of shoppers have been enjoying a shopping bonanza in November. This is because Egyptianising the Black Friday tradition has meant extending it to all four weekends of November.
The scale of the discounts was also wider this year, and they were not limited to clothes and electronics.
While e-commerce platforms had been marketing their November offers for weeks even before the month started, pharmacies, supermarkets, beauty centres, spas, and cosmetic clinics all joined the wave of sales by offering discounts on their services, some reaching up to 70 per cent.
Some real-estate developers offered discounts on housing units to celebrate Black Friday.
Suffering from harsh economic conditions and escalating prices, many Egyptian consumers finds the one-month sale an opportunity to buy items they couldn't have afforded otherwise.
The fact that they have longer than just one day allures more shoppers to visit stores and go to shopping malls.
Cairo resident Sara Ahmed said she loved the idea of a one-month mega-sale at several stores, especially online ones, since this allowed her to find the things she wanted without time stress.
“Before the start of the season, I listed the things I wanted to get, including make-up, bags and some clothes. I knew exactly what I wanted and just waited for their prices to be reduced. The month gave me the space to compare the items and brands to get the best value for money,” she said.
Mana Youssef, head of public relations at e-commerce site Jumia Egypt, said the decision to extend the sale for the whole month had been based on surveys done months before the start of the season.
“Based on the studies we have been doing, people prefer to have a longer timeframe to look at discounted items. This leads them to purchase more, even things they would not necessarily consume at the moment, because they know that even if they do not use the items in the near future, they won't find better prices than those offered in the sale,” Youssef said.
“Some people might order a few items at the beginning of the month and wait until the next pay cheque in order to get the others. We target providing products at the best possible prices for the longest possible time,” she added.
The online trading platform's offers kicked off on 8 November and lasted until the 29th, with a focus on having the most attractive and diverse offers in the five categories people search for the most, including phones and tablets, fashion, health, and beauty.
This year's offers included high-end products and services including healthcare products, beauty centres, and gyms. Sherif Al-Diwany, former head of the Egyptian Centre for Economic Studies, a think tank, explained that “retailers have Egyptianised Black Friday to meet market needs.”
Such offers mainly target the A and B classes in Egyptian society, but this is a large sector of the market whose needs have to be accommodated.
However, it is not only A and B consumers that make use of the offers, as Amr Hassan, head of the Ready-Made Garment Division at the Cairo Chamber of Commerce, put it. Black Friday had also revived demand in sectors that have been stagnant for a while, he said.
He said that the clothing market attracted the most consumers, especially when buying winter clothes. Many consumers faced financial difficulties, he said, and this meant that they made larger purchases during the sales.
“For the past year, many people have been suffering from increasing prices and increases in the cost of living, making clothes purchases a luxury. This has severely affected retailers, leading to one of the biggest recessions the market has witnessed in years,” he said.
The one-month discounts under the name of Black Friday were a way of reviving the market, he added, saying that this had been particularly true of the market for clothes.

*A version of this article appears in print in the 28 November, 2019 edition of Al-Ahram Weekly.


Clic here to read the story from its source.