1. MENA Black Friday will represent a sizable $74 Bn retail opportunity in 2023; However, its significance within the online retail calendar is moderating er ecosystem
Black Friday Sales stabilizing but still significant. While the World Cup influenced sales last year, it is anticipated that the MENA retail calendar will return to its usual patterns. The significance of Black Friday retail sales is diminishing as consumers now shop proactively throughout the year.
2. This is the first Black Friday where Fashion sales will surpass Electronics
Black Friday retail landscape is undergoing a notable transformation, with fashion poised to overtake electronics as the dominant category.
In the past, electronics consistently held a higher purchase intent, but this trend has now reversed. This shift can be attributed to the availability of competitive prices year-round, which has diminished the traditional significance of Black Friday in the electronics market.
3.However, brands must remain cognizant of significant shifts in consumer behavior
There has been a notable shift in consumer buying behaviour, with a growing preference for quality experiences. The overall significance of Black Friday is diminishing, as consumers are increasingly seeking sales and promotions year-round.
