Platforms like Nykaa, Tata Cliq, and Flipkart-owned Myntra, as well as brands like H&M and Zara are conducting such sales in India.
Online and offline markets in India are set to see sales growing by over 70% in the week of Black Friday this year when compared to business as usual (BAU) weeks, according to estimates from market research firm 1Lattice.
In the US, Black Friday is the Friday after Thanksgiving. It’s the busiest shopping day of the year and marks the start of the Christmas shopping season. The sale typically gets extended to the following Monday, called Cyber Monday.
According to Ashish Dhir, executive vice president for consumer and retail at 1Lattice, online sellers will benefit more from the Black Friday sales when compared to offline sellers, but some of the latter will also be experimenting with sale events. A lot of this benefit will be driven by the consolidated nature of online commerce, as that can drive narratives, ads and discounts around a not-so-well-known sale event like Black Friday much better than the more fragmented offline ecosystem, Dhir said.
Ecommerce firm Tata Cliq is targeting a 50% increase in revenue over the past year from the Black Friday sales for all three platforms run by it – the main platform, premium-focused Tata Cliq Luxury, and beauty and personal care focused Tata Cliq Palette, said chief executive Gopal Asthana. “On Tata Cliq Luxury and Tata Cliq Palette, we are in fact seeing a 5x and 4x jump, respectively, over the non-sale period,” Asthana added.
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This Black Friday will also be stronger compared to last year, when sales for the week were about 50% to 60% higher than BAU weeks, 1Lattice’s Dhir told ET.According to Asthana, Tata Cliq last year posted overall 70% growth during Black Friday.
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Listed ecommerce platform Nykaa saw 800,000 orders on the first day of sales in 2022, a 40% jump on 2021. The firm did not give projections for this year’s sales, but said it was offering discounts of up to 50% on over 2,100 brands.
The momentum is expanding in smaller towns too. “At the end of the day, if you offer a customer certain deals and discounts, he/she will act on it even if he doesn’t fully understand what the offer is for,” Dhir said. “57% of the purchases were made by shoppers from tier-2 and tier-3 cities collectively … Besides metros, the highest orders came from Lucknow, Chandigarh, Ghaziabad, Jaipur, Guwahati and Jammu,” Nykaa said about its 2022 Black Friday sales in an emailed statement to ET.
Though it already matches sales from other sale events like Valentine’s Day or Republic Day, Black Friday sales are still far behind the flagship sales that take place around Dussehra and Diwali, and are even behind Christmas sales, Dhir said.
