The effect of Black Friday: Vietnam’s market is getting hot

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In Photos: Black Friday hits AEON Mall Long Bien in Hanoi

This year’s Black Friday sales of Canifa attracts many consumers. Photo: Xuan Thao

Sales hunting also requires experience and skill

Black Friday is the day after Thanksgiving Day and is biggest deals in the United States. In the recent years, Black Friday has been known in Vietnam and created a significant shopping effect for the citizens.

Many foreign fashion brands have offered big discount programs on this occasion. Most of these brands are in foreign countries, so the time to start the sales is usually in the early morning in Vietnam. However, this also cannot prevent the professional sales hunters.

Sharing experience in sales purchase, Ms. Nguyen Thi Van Anh (living on Nguyen Hong street, Hanoi) – owner of a reputable online store said that this year, on the early morning of 26 November, websites will start to publish their record sales in this Black Friday. Thus, from the beginning of the week, I have prepaid money to my international payment account for convenience in order and payment as soon as choosing favorite products.

In addition, most of the hot items in this sale are discounted at record price and are regularly updated. if waiting until the opening of the sales, the items will be sold out quickly and have not full sizes. Hence, before this week, we always encouraged customers to choose items and size and then pay a deposit to us. Accordingly, we will order and pay money to get the items right after the websites starts their sales. If the items are sold out or have not full sizes, we will have our relatives there go to their showrooms to buy the items.

“Almost 50% of items on the websites are frequently discounted, but they are usually old models, not new models. In this occasion, I also recommend customers to check regularly to update the new items. The importance is quick decision to buy the goods. Normally as the previous year, over 2 days of Black Friday, I can get interested from 40,000 to 50,000 VND per item and from 15 – 20 million VND for each sales season.

Exciting at stores

The most favorite brands are Zara, Asos, Bershka, Stradivarius, Pull & Bear, Mango, Uniqlo, H & M, Old Navy, Gap. These are common with Vietnamese. The price calculation is publicized at the online stores: Price on the web x exchange rate + tax + purchase fee (usually 5-8% of the item value) + domestic ship fee (if any) + ship fee to Vietnam (25,000-30,000 VND / tael). However, customers need to consider carefully in choosing the size because the different countries have different size calculations.

Not only online sales websites have been receiving order for discount items on this day, few companies in Vietnam also provide with service of purchasing discount items from the US, Australia, Spain with the VND price which includes costs (such as tax, local ship fee and ship fee to Vietnam). However, the price will be higher than it offered by leading online stores.

Not only foreign websites attract people but also many brands and trade centers also offer discount programs. Walking around the big trade centers in Hanoi such as Lotte, The Garden or Vincom, we can easily see the notice of discount, big promotion for Black Friday.

Big fashion brands such as Canifa, Juno, Elise are also launching their own promotions. For example, , Canifa fashion discounts from 10 to 50% of all products in only 5 days from 22 to 26 November 2017 across the Canifa shop system, or Juno - a shoes brand also offers a Juno Black Friday promotion from 17 to 26 November with programs such as: 200,000 pairs of shoes at price of 200,000 VND per pair, a series of shoes, handbags at 300,000 VND or 50% off at Juno stores nationwide and online shopping channel. Not only at online stores, Tiki also announced the program "Black Friday Technology Bar" from 0.00 am of 21 to 24 November 2017 with the technology items.

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According to Ms. Phuong Anh, a shop assistant at a shop in the Lotte trade center, recently almost all shop’s employees have to work a full day to serve all customers during the sales period. The number of visitors is 3-4 times larger than usual and the items are sold out quickly. Even the revenues of the store on these days are equal to the total revenue of a month. Many models now require the deposit and will deliver later due to the stock out on the whole system.