Black friday: the truth behind its name

Blaông chồng Friday, similarly, has been brought khổng lồ Vietphái mạnh through some companies’ promotion race for a few years ago, & soon enough, this term becomes a smash in the viral truyền thông. The customers realize that they can purchase consumer goods with a 10% khổng lồ
Vietphái nam has always been well-known for its traditional culture which has had millennia to lớn develop its core values. However, thanks khổng lồ the long-term globalization, citizens in this nation have willingly accepted the exotic tendencies, making the culture become one of the most opened cultures in the world. Celebrating Lunar New Year which is indigenous to lớn China, using measurement system imported by French, having parties on Christmas Eve like a genuine Westerner, are only a few examples for their keeping up with the outside world. Especially for entrepreneurs who always attain a sharp business sense, they, in the quickest way, come up with the most prevailing trends and permit them lớn improve their marketing campaigns.Blaông chồng Friday, similarly, has been brought khổng lồ Vietnam through some companies’ promotion race for a few years ago, và soon enough, this term becomes a smash in the viral media. The customers realize that they can purchase consumer goods with a 10% to một nửa discount on this day while retailers believe sầu it is a “black” day for increasing sales revenue, as “black” means the positive sầu number in the old-size balance sheets. Therefore, Blachồng Friday presents not only a huge potential for business promotion and growth but also a revolutionary change in consumption habits. In this article, there come seven obvious impacts, that any of them can be a threat or also opportunities for many retailers in Vietphái nam.

Bạn đang xem: Black friday: the truth behind its name

Basically, a price war is known as a fierce competition where retailers cut prices in an attempt to increase revenue in the short-term, or as a longer-term strategy to lớn gain market nội dung. As soon as Black Friday become popular in Vietphái nam, there are more and more companies attempt to lớn join the war.When the fiscal year of 2018 comes to lớn its kết thúc, many retailers have sầu already achieved their alặng of business (such as total profit, sales revenue) which is mix up a long time before. However, they still remain tons of products in the inventory; and the idea of “selling as many as they can” becomes completely significant. The reason for this is quite simple because every product which they can sell will directly be recorded lớn the profit statement. Therefore, cutting down the price is a beneficial movement for retailers and also customers. The impact can be reported through the chart as below:

It is clear that CPI (Consumer Price Index) in Vietphái nam has increased for almost the whole years of 2018. Especially in February, there was a remarkable growth of 0.73%, due lớn the noticeable rise in the price of medicine và health care service. By contrast, it is predicted that the CPI growth rate will reach the lowest point of -0.32% in November, thanks to the Black Friday price war.
Along with reducing the price khổng lồ attract more buyers, retailers also rocket their advertising, as it can boost br& recognition & sales. They obviously understand that one of the most fundamental principles of the retail sector is lớn attract people's attention through their eyes. An eye-catching banner or đoạn Clip sometimes is more effective than a whole kinh doanh chiến dịch. As a result, some extra-large retailer in Vietnam namely chợ giao thương Big C (EB), Vinmart (Vincommerce), Co.op Mart, invest millions of dollars for searching Blaông chồng Friday Ads 2018 in order khổng lồ benefit from this golden opportunity.
According khổng lồ the research conducted by, there are two dynamics for the modern retail industry in Vietphái nam. Firstly, Vietphái mạnh has the second largest urban population in ASEAN (the urban population of Vietnam was 31.5 million people in 2017) and this figure is still increasing rapidly. Secondly, the GDP.. growth rate is stable at around 6.7% - 7.3% và consumption growth in 2017 is 7 % (recorded in the Government's annual report 2017).Even Vietphái nam has a huge potential for developing a better retail system, it is notoriously difficult khổng lồ meet the customers’ dem& on Blaông chồng Friday. The urbanization rate of Vietphái mạnh was at 34% while in the CLMV group (the four least developed countries in Southeast Asia including Cambodia, Laos, Myanmar, and Vietnam), this figure is only higher than that of Cambodia (21%) but lower than the figure for Laos (40%) và Myanmar (35%). Similarly, the retail mật độ trùng lặp từ khóa of Vietphái mạnh is worse than that of other countries, reported through the chart as below:

The quality paradox is a new term provided by the team of professional analysts. This is a mô tả tìm kiếm of a situation when a company has no further effort in increasing the unique of products. Therefore, the company leaders face more và more business problems & they decide khổng lồ spover more time on firefighting, which means they come up with many temporary solutions in order to lớn promote branding và sales. However, they have sầu even less time and labor force for improving quality, which actually supposed to lớn be their most consideration.This term has totally implicated the status of Vietnamese retailers on Black Friday 2018. Obviously, many of them have sầu only focused on their sale campaign but ignored the fact that the chất lượng of their products has no development for a long time. Consequently, they create a paradox called the vicious cycle of the quality:

5, The important of customer focus

The orientation of an organization toward serving its clients' needs. Having a customer focus is usually a svào contributor khổng lồ the overall success of a business and involves ensuring that all aspects of the company put its customers' satisfaction first. Besides, having a customer focus usually includes maintaining effective customer relations và service program. Due to lớn the compelling reasons above, Black Friday 2018 is one of the best periods of time that this strategy can be launched.

Xem thêm: How Google Maps Platform

The emerging Blaông xã Friday trends are giving analysts a glimpse of what the Vietnamese economy of this decade could look like và the immense changes that consumption habits will undergo. As with any change on the horizon, this brings with it both intriguing possibilities and cause for concern. Changes in consumption habits have sầu a substantial effect on business models, employment và ultimately our society. Consequently, retailers are quickly moving forward lớn ensure they are incorporating new operating models & ways of addressing consumer needs & expectations with the new sale chiến dịch.
Online shopping has become a new type of retail shopping and it has now been adopted all over the world. Even this shopping method is still not as well known or accepted as in many other developing countries, the knowledge of online shopping in Vietnam giới is now beginning to increase rapidly. Thanks to lớn the influence of Black Friday, customers in this country can access the most convenience modes of shopping and obtain many good đơn hàng from some national largest e-commerce companies:
The biggest e-commerce websites in Viet Nam: Lazada which has svào parent company (Alibaba) backing it.The local firms that are already familiar with Vietnamese customers such as The Gioi Di Dong (Mobile World), Senbởi vì, Tiki, Vat Gia, FPT Shop, Dien May Xanh, A Day Roi & Nguyen Kyên.

Xem thêm: Cách Thanh Toán Thẻ Visa - Thanh Toán Không Tiếp Xúc Của Visa


To conclude, though Blachồng Friday has emerged in Vietnam for a few years, its impacts on the economy and society still play a vital role for businesses, especially retailers. The impacts can be advantages or disadvantages, but those depkết thúc on how entrepreneurs see the world.
Business Events

You may also like


Friday 18, 10 2019 TOP 8 E-COMMERCE PLATFORMS TO BOOM ON THIS BLACK FRIDAY IN VIETNAM Blaông chồng Friday 2018 falls on November 23 is the "mega sale day",...
Friday 28, 08 2020 Africa – West Asia: Opportunities for Vietnamese Exporters In the context of the stagnation of our current markets, promoting exports...