In this news, we discuss the Walmart, Best Buy extend Black Friday deals as spending habits change.
NEW YORK (Reuters) – Eager to capture all vacation-related spending as early as possible this year, Walmart Inc. WMT.N, ASOS ASOS.L, Best Buy BBY.N and other major retailers are turning Black Friday into a Friday of several days. promotion.
Black Friday, held the day after the Thanksgiving holiday, has long been one of the biggest shopping days of the year in the United States. Retailers rely on customers who open their wallets to close deals on gifts.
However, the COVID-19 pandemic has forced retailers to radically rethink the way they do business, as consumers’ spending habits prove unpredictable, and while Black Friday remains a major marketing event for retailers, its relevance had already diminished considerably in recent years due to the early release. promotions.
“Amazon Prime Day (in October) marks the start of the holiday shopping season in 50 years, as COVID is definitely reshaping the holiday calendar,” said Hilding Anderson, head of retail strategy at Publicis Sapient consulting firm. “Black Friday may not exist as a recognizable form this year.”
This has forced many retailers to match and cut much earlier in the season to stay competitive. A slew of retailers, including Walmart, Target TGT.N, Best Buy, and Kohl’s KSS.N, have announced plans to roll out their winter vacation promotions in October as well.
Consumers with a head start on holiday shopping could give retailers a better chance to increase sales and improve revenues after “an incredibly tough year,” Anderson added.
Walmart, the world’s largest retailer, said on Wednesday it would offer Walmart shoppers discounted prices on everything from TVs to bath towels and blenders in three separate promotions over a handful of days in November, this which will help reduce crowds. The promotions will start online at Walmart.com and continue in Walmart stores, the company said.
Best Buy emailed shoppers on Tuesday announcing heavily discounted laptops, tablets, printers, and other items for their two-day “Black Friday Price Guarantee Sale” coinciding with the first day AMZN.O d ‘Amazon.
A spokesperson for Best Buy said on Wednesday it would give shoppers more opportunities to take advantage of deep discounts on electronics as the November holidays approach.
ASOS chief executive Nick Beighton told Reuters on Wednesday that the British online clothing retailer would also extend its Black Friday promotions over several weeks.
Reporting by Melissa Fares in New York; Additional reporting by James Davey in London and Uday Sampath Kumar in Bengaluru; Editing by Sam Holmes and Cynthia Osterman
Original © Thomson Reuters
Originally posted 2020-10-14 13:46:10.