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According to an article by Dorita Yiannakou, this past week, the retail scene came alive with the buzz of Black Friday. Consumers flooded stores and browsed online, meticulously comparing prices and waiting for the best deals before making purchases. After several years of lackluster participation, this year’s Black Friday appears to have reignited enthusiasm among shoppers and merchants alike.
While shopkeepers remained cautious about their sales, consumer interest surged compared to last year. This renewed energy is expected to inject life into the retail market. The peak of activity was, unsurprisingly, Friday itself, but many consumers chose to window shop rather than make immediate purchases. With the holiday season approaching and Christmas bonuses on the horizon, some shoppers may be holding out for December discounts.
The buzz was especially noticeable at major shopping hubs like Nicosia Mall, which reported a 20% increase in foot traffic from Monday to Friday compared to the same week last year. This spike was attributed to Black Friday aligning with the end-of-month payday, putting more disposable income in shoppers’ hands. Favorable weather also played a role, encouraging people to head out and take advantage of the deals, which reached up to 30% off in many cases.
This year, clothing, footwear, cosmetics, and perfumes emerged as the top-selling categories, while electronics and appliances, traditionally a Black Friday staple, lagged slightly. However, retailers anticipate a surge in electronic sales on Cyber Monday, which promises additional deals for tech enthusiasts.
Many stores embraced “Black Week,” rolling out discounts well before Friday. This strategy, common in the fashion and footwear sectors, allowed consumers more flexibility in planning their purchases. Despite early deals, most stores reserved their biggest discounts for Friday, prompting many shoppers to revisit stores multiple times throughout the week to snag the best offers.
One notable shift this year was the focus on discounts for new stock, rather than outdated or leftover inventory. George Georgiou, General Manager of Nicosia Mall, emphasized that this approach helped rebuild consumer trust in the value of the deals. Discounts ranged between 30-40% for most stores, although a few offered steeper cuts. However, Georgiou warned that excessively high discounts, such as 80%, often indicated either inflated prices beforehand or an attempt to offload unsellable items.
Online shopping also saw a significant increase this year, reflecting a broader trend toward digital convenience. However, many consumers still flocked to physical stores, highlighting the enduring appeal of the in-person shopping experience, particularly for trying out products and comparing prices directly.
Black Friday has set a promising tone for the festive shopping season. Retailers are hopeful that this renewed consumer confidence will carry into the Christmas and New Year periods, further bolstered by holiday bonuses and a desire to celebrate the end of the year in style.
As the dust settles on Black Friday, all eyes now turn to Cyber Monday and the rest of the holiday season, which promise to keep the tills ringing and shoppers busy.
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