Over the last few years, New Zealanders have adopted the US shopping tradition of Black Friday with more and more enthusiasm. The day itself falls on November 23 this year, but several retailers are already well into the swing of things.
Consumer technology retailer PB Tech has already sold more than $7 million worth of product to 25,000 customers in a pre-Black Friday sales on Friday that lasted just five hours. It reportedly expected a further $8 million in sales from an online activation held the same day.
It reports its biggest growth categories were 4K TVs, up 120 percent; headphones, up 110 percent; and smartphones, up 85 percent. PB Tech spokesperson Mark Dalton says shoppers seem to be using Black Friday as their main shopping day to buy Christmas gifts.
NZ Post confirms retailers in New Zealand are now treating Black Friday as a week-long event, but says it’s still bracing for a wave of parcels to flood its network in the days following November 23.
NZ Post GM business marketing Chris Wong says it’s one of the biggest single shopping days of the year. A company report released earlier this year says Kiwis’ online shopping spend increased by 13 percent over 2018.
“Our experience shows us that a few days after these sales we start to see huge volumes of parcels coming through our network. Between 2014 and 2017 the annual parcel volume sent through NZ Post increased by 21%. Across the same period though, the average parcel volume sent just in November rocketed up by almost 50% thanks to Singles Day, Black Friday and Cyber Monday.”
PB Tech’s Dalton shared some further thoughts on the event with us.
Tell us more about the importance of Black Friday for PB Tech. Can you give us an indication of what percentage of the company’s takings is made on that one day each year?
Black Friday and Cyber Monday is our flagship sale for the year. It is our opportunity to thank our customers for their business. Its financial impact is not significant enough to feature as a percentage but culturally it is our most important event
Can you share some more information about your strategy regarding Black Friday?
PB has always seen this sale as an opportunity to thank our customers for their support during the year.We try and provide our largest discounts on the most popular products to show our appreciation.
Black Friday is often considered an American-style retail event. Have you adjusted the offering at all to suit the preferences of Kiwi shoppers?
PB was one of the first retailers to bring the Black Friday sale to New Zealand. Our first event was in 2010. We had seen the excitement it brought overseas and we wanted to create that in New Zealand. It is now well established event in our customer calendar and we always get fantastic feedback.
PB Tech has been participating in Black Friday sales since 2012, and you mentioned you’ve seen consumers adopting the event more and more. Do you think there’s room for Black Friday to grow more in the Kiwi market? If so, how much more?
Every year we see more New Zealanders retailers joining black Friday. With the internationalised web sites also promoting it, it is only natural this event will continue to have significant growth.