'Black Friday' gets more popular in Sweden

GMT 02:33 2014 Saturday ,29 November

Arab Today, arab today 'Black Friday' gets more popular in Sweden

Crass commercialism has hit Sweden
Stockholm - XINHUA

 An increasing number of Swedish companies are rolling out the "Black Friday" post-Thanksgiving sales concept in a bid to kick-start Christmas shopping.
Traditionally, the hyped up consumer event is held across the United States after the significant national holiday Thanksgiving.
But Swedish businesses are growing more enthusiastic about the idea, business magazine Veckans Affarer reports.
Online business were most positive, but an increasing number of physical stores are following suit, Veckans Affarer reports.
Electronics stores are leading the way, Niclas Eriksson, CEO of major chain Elgiganten, confirmed.
"Our industry is already very competitive," he says. "We have great expectations on December, and this will kick-start Christmas shopping."
But there are risks, warns Jonas Arnberg, chief economist at the Swedish Trade Federation.
He says companies may find that shoppers abandon full-price shopping in the lead-up to Christmas and opt for Black Friday and Boxing Day sales instead. The risk is that even though sales volume and market share go up, profits could dip, he explains.

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