The Chamber for Small and Medium Enterprises (SMEs) revealed that this year’s Black Friday was the closest one to pre-pandemic levels in terms of consumers taking to the streets and shops.
However, despite the eagerness to shop being evident, consumers were found to be much more cautious and scrupulous in how much and on what they spend on.
This was attributed to inflation related decisions, as consumers appear to have retained some of the shopping trends observed during the COVID-19 pandemic.
This means appliances, household electronics as well as brown goods were flying off the shelves at a faster pace than any other items. Affordable brands in the fashion industry also fared well, with the pricier ones getting a hit.
The Chamber noted that different sectors applied different strategies in how they structure offers. Some extended the offers whilst others decided to solely stick to the Black Friday weekend.
On their part, businesses reported a somewhat high level of satisfaction despite inflation worries as people were very much eager to take to the shops following the pandemic’s accompanying restrictions.
#MaltaDaily
