Shopping extravaganza 'Black Friday' opening wallets of customers worldwide
Updated: 2021-11-26 17:06:15 KST
The official shopping extravaganza Black Friday has finally arrived.
The event first began in the U.S. when leftover products over the Thanksgiving holiday were offered on sale at massive discounts.
This year, Black Friday begins on the 26th, and will continue until the 29th, Cyber Monday.
And, deals are not only available in the U.S.
South Korean companies are giving discounts as well.
The country's online fashion retailer Musinsa began its mega sale on the 25th, which will run until December 1st.
110,000 products will be up to 80 percent off.
On the opening day of the sale, they earned more than 15 million U.S. dollars, and the amount is going up every minute.
Other local firms including Coupang, 11Street and Lotte Duty Free are selling items at hugely reduced prices.
Many Koreans are also directly buying from overseas with more than 37 percent of them buying clothes.
Roughly one-third buying electronic goods followed by other items including shoes and kitchen supplies.
In the U.S., stores are set to open early with Walmart, Best Buy and Old Navy opening at 5 AM.
Then at 6 AM, other stores like Macy's and Home Depot will open their doors.
Last year's Black Friday was considered to be very quiet, but this year, with many receiving their COVID-19 vaccines more are expected to show up at stores.
Meanwhile in China, e-commerce firms are also getting ready for the Black Friday season.
"For the peak season in the fourth quarter, we've created accounts on as many platforms as possible in advance and prepared to drive traffic and set promotional prices."
Chinese companies are giving big discounts as a way to encourage shoppers at home and abroad amid rising cross-border e-commerce.
The COVID-19 pandemic has led to fast growth of the digital economy and has impacted the buying and selling patterns of people worldwide.
Jang Tae-hyun, Arirang News.