Local retailers pin hopes on Black Friday sales
Despite a dire political and economic environment, retailers are upbeat about Black Friday sales and Christmas spending. Online retailer Takealot aims to achieve about R130m in sales during 2017 Black Friday despite a tough environment for retailers, underlined by weak economic growth and the reduced buying power of consumers. Zando, which is one of SA’s largest online fashion retailers, said this would be its biggest year to date with the Black Friday Blowout. Zando is forecasting year-on-year sales growth of 40%-50% on the day. The online Black Friday concept was introduced by Takealot in 2012, following its huge success in the US. Local retailers have committed to the shopping frenzy, which will take place from November 24 to 28, offering significantly lower prices. For online retailers, preventing overcrowding on their servers, system crashes and orders getting lost in cyberspace are part of the juggling act. Takealot CEO Kim Reid said that while the event placed enormous strain...
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