SME Chamber President meets MDB Officials
22 April 2024
Malta Chamber of SMEs President Mr Paul Abela met MDB Chairman Leo Brincat and CEO...
More consumers shopping during Black Friday but average spend lower
26 November 2022
This Black Friday is the closest one to pre-Covid levels with shoppers flocking the streets for Black Friday, from the early hours of the day. Shop owners explain how the eagerness and will to shop is evident but at the same time cutomers are also being more careful in their spending.
Attributing the lower spending to inflationary issues, and this affecting purchasing power, consumers appear to have retained some of the spending trends we have seen during Covid, with appliances, household electronics and brown goods, having a very good November.
Similarly, more affordable brands within the fashion industry and costume jewellery exceeded expectations since they did very well. High end brands with a higher price tag did not do so well in comparison.
It is evident that different sectors have started adopting different strategies in how they time their offers. Some have extended their offers to cover most of November while others are sticking to the black Friday weekend.
Overall businesses are very pleased that despite the negative global feeling and inflationary pressures, they saw their clients eager once again on Black Friday, eager to shop and also to buy gifts. Black Friday has once again started establishing itself as a very important milestone for businesses, following 2 years of Covid downturn.
