By Abdul Rahman Suagibu –
NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- ZIMBABWE, 29th November, 2019, Zimbabweans local retailers after accepting the e Black Friday shopping; cuts prices by 50% according to a snap survey by 263 Chat Business.
At 6am, queues were entwisted at most stores which had advertised price adjustments for today with many shops opened by 7.30 am.
This situation comes at a time when Zimbabweans are failing to contend with the rough economic situation in the country which have affected consumer spending a great deal.
Apparently, stores with particularity in clothing business, had already run out of merchandise in just an hour of opening as customers cleared all selected wares on promotion.
Business operators said, they were going to drip-feed their stocks onto the shelves to avoid a onetime clearance by consumers.
Black Friday has become a globular shopping observable event; where businesses offer the lowest prices for the year and has become a premonition of the festive season. Black Friday was first associated with financial crisis and not sales shopping.
Two Wall Street financiers – Jim Fisk and Jay Gould took a risk and bought huge stocks of gold anticipating higher returns once prices heaved.
On Friday the 24th of September, 1869 the US gold market crashed and the two left Wall Street barons bankrupt, a day that became known as Black Friday.
In the late 1950, Police officers in Philadelphia, United States first linked Black Friday to the day after Thanksgiving (4TH Thursday of November) as large crowds of shoppers came to the city and created chaos and traffic jams leading to shoplifting.
Therefore, the event has retained prominence, with business operators who take the opportunity to provide invigorating deals in a way to rejuvenate sales.
For New Africa Business News Abdul Rahman Suagibu Reports, Africa Correspondent