While there aren't any "formal statistics" from last weeks BlackFriday sales across the country, consumers and retailers have benefited. Shoprite Checkers adopted the idea locally from the United States a few years ago and the trend looks like it's here to stay.
Evan Walker from 361 Asset Management told Charlotte Kilbane (standing in for Stephen Grootes) that there is no year-on-year growth stats available for BlackFriday, but it has helped with retailers cash flow.
Consumers have benefited from over-stock, like older model TV's that needed to be cleared so there is that added advantage.— Evan Walker, 361
For retailers it's more of a promotional drive and also helps with customer retention and increases online spending.— Evan Walker, 361
Walker said it was unclear if last week's sales will lead to higher festive season shopping days. Listen here:
This article first appeared on 702 : Customers and retailers benefited from #BlackFriday