Black Friday: sales remain low despite high discounts

Illustrative image (Photo: VNA)

A survey of shopping malls and fashion streets such as Ba Trieu, Bach Mai, Chua Boc, Pham Ngoc Thach, and Cau Giay shows that stores flash eye-catching banners and loud broadcasts to promote their sales. Promotional campaigns are also diverse, offering discounts ranging from 30% to 50%, with some stores going as high as 80% off or running special deals like “buy one, get one free” or “buy two, get one free.”

Major fashion brands such as NEM, Format, D'chic, Adidas, Mango, and Converse, as well as more affordable labels like Canifa, Yody, Vietbrothers, and TokyoLife all display discount signs ranging from 50% to 70%, and even up to 80%, to attract customers.

However, sales activities have not been bustling, with only a few well-known brands attracting crowds of customers.

According to Van Anh, a fashion saleswoman at Trang Tien Plaza, the number of buyers on this year’s Black Friday has decreased compared to previous years, while purchasing power has also shown little improvement, and the value of each transaction has also noticeably declined.

Hoang Y Nhi living in Bach Mai street said although many items are deeply discounted, she is still very cautious and thoughtful about her spending decisions because the designs of discounted products this year are not attractive enough, out of fashion or out of size.

Most buyers share a view that Black Friday promotions have failed to attract consumers because of the ongoing economic difficulties which have made shoppers more cautious about their spending decisions.

Chu Tuan Long, a shopping enthusiast in Kham Thien street, said that over recent years, Black Friday has gradually lost its appeal as more and more stores launch promotional programmes before the event and extend them through the event, so shoppers like him no longer feel the excitement of waiting for the actual day to hunt for sales as they did before./.