Black Friday Sales in Pakistan
Pakistan saw its first Black Friday sales this year. These retail sales were on at both brick-and-mortar stores and e-tailers like Daraz.pk. There were also media reports indicating similar sales in the UK and other countries as well. For those unfamiliar with Black Friday, let me explain what it is.
Black Friday, a day of mega sales by retailers, follows Thanksgiving Day in America. Black Friday marks the start of the annual Christmas shopping season that accounts for about half the annual retail revenue and much of the profits earned by US retailers.
Thanksgiving is a quintessential American holiday that commemorates the arrival of European "Pilgrims" fleeing religious persecution across the Atlantic. It is celebrated with a dinner of turkey, cranberries and corn that made up the feast offered by native Americans, also known as American Indians, to welcome the hungry and tired Europeans in this continent of North America. President Barack Obama used the occasion to remind today's Americans of their duty to welcome those who are fleeing persecution in Syria and elsewhere in the Middle East. Here's what the President said:
“Nearly four centuries after the Mayflower set sail, the world is still full of pilgrims – men and women who want nothing more than the chance for a safer, better future for themselves and their families. What makes America America is that we offer that chance. We turn Lady Liberty’s light to the world, and widen our circle of concern to say that all God’s children are worthy of our compassion and care. That’s part of what makes this the greatest country on Earth.”
So what do many American shoppers do on Black Friday? They mob the shopping malls and the brick-and-mortar stores as they open very early on Friday morning following Thanksgiving holiday to snap up bargains. Overzealous shoppers are known to knock down and trample other shoppers as they race to take advantage of bargain basement prices on items such as new apparel, consumer electronics and toys. With the rise of e-commerce, many American shoppers now prefer to take advantage of Black Friday sales offered by popular e-tailers like Amazon.com. The e-commerce sites usually have such Black Friday sales continue beyond a single day.
This year, Pakistan's Daraz.pk e-tailer offered Black Friday bargains to Pakistani shoppers. Daraz.pk partnered with several companies including PTCL, Ponds, Mediatek, InnJoo and Easypay. EasyPay is the official payment partner, offering an additional 25 per cent discount on products to customers who use Easypay on Black Friday. There were category discounts as high as 63 per cent on smartphones, 50 per cent on computers and 70 per cent on fashion and accessories on offer at Daraz, according to Express Tribune newspaper.
In addition to e-commerce sites, there was also a report in England's "The Daily Mirror" about "Lahori aunties going mad" on Black Friday at a fabric store in Lahore.
To the dismay of many, American style consumerism is finding broad acceptance among the middle class consumers across the world, including developing countries like Pakistan. Is this wise? Is it sustainable? How would it affect our future? I'll leave these questions for the readers to answer for themselves.
https://vimeo.com/147199858
Amir Khan Under Fire Over "Intolerance" in India; Black Friday in Pakistan; Russia-Turkey Conflict in Syria; PPP's Asim Husain C from WBT Productions on Vimeo.
https://youtu.be/_y07qQCtWXw
Related Links:
Haq's Musings
E-Commerce in Pakistan
High-Tech Investments in Pakistan
Upwardly Mobile Pakistan's Appetite For International Brands
Pakistan Middle Class Grows to 55%
South Asia's Rising Consumption; Depleting Resources
Syrians Flee Persecution
Black Friday, a day of mega sales by retailers, follows Thanksgiving Day in America. Black Friday marks the start of the annual Christmas shopping season that accounts for about half the annual retail revenue and much of the profits earned by US retailers.
Thanksgiving is a quintessential American holiday that commemorates the arrival of European "Pilgrims" fleeing religious persecution across the Atlantic. It is celebrated with a dinner of turkey, cranberries and corn that made up the feast offered by native Americans, also known as American Indians, to welcome the hungry and tired Europeans in this continent of North America. President Barack Obama used the occasion to remind today's Americans of their duty to welcome those who are fleeing persecution in Syria and elsewhere in the Middle East. Here's what the President said:
“Nearly four centuries after the Mayflower set sail, the world is still full of pilgrims – men and women who want nothing more than the chance for a safer, better future for themselves and their families. What makes America America is that we offer that chance. We turn Lady Liberty’s light to the world, and widen our circle of concern to say that all God’s children are worthy of our compassion and care. That’s part of what makes this the greatest country on Earth.”
So what do many American shoppers do on Black Friday? They mob the shopping malls and the brick-and-mortar stores as they open very early on Friday morning following Thanksgiving holiday to snap up bargains. Overzealous shoppers are known to knock down and trample other shoppers as they race to take advantage of bargain basement prices on items such as new apparel, consumer electronics and toys. With the rise of e-commerce, many American shoppers now prefer to take advantage of Black Friday sales offered by popular e-tailers like Amazon.com. The e-commerce sites usually have such Black Friday sales continue beyond a single day.
This year, Pakistan's Daraz.pk e-tailer offered Black Friday bargains to Pakistani shoppers. Daraz.pk partnered with several companies including PTCL, Ponds, Mediatek, InnJoo and Easypay. EasyPay is the official payment partner, offering an additional 25 per cent discount on products to customers who use Easypay on Black Friday. There were category discounts as high as 63 per cent on smartphones, 50 per cent on computers and 70 per cent on fashion and accessories on offer at Daraz, according to Express Tribune newspaper.
In addition to e-commerce sites, there was also a report in England's "The Daily Mirror" about "Lahori aunties going mad" on Black Friday at a fabric store in Lahore.
To the dismay of many, American style consumerism is finding broad acceptance among the middle class consumers across the world, including developing countries like Pakistan. Is this wise? Is it sustainable? How would it affect our future? I'll leave these questions for the readers to answer for themselves.
https://vimeo.com/147199858
Amir Khan Under Fire Over "Intolerance" in India; Black Friday in Pakistan; Russia-Turkey Conflict in Syria; PPP's Asim Husain C from WBT Productions on Vimeo.
https://youtu.be/_y07qQCtWXw
Related Links:
Haq's Musings
E-Commerce in Pakistan
High-Tech Investments in Pakistan
Upwardly Mobile Pakistan's Appetite For International Brands
Pakistan Middle Class Grows to 55%
South Asia's Rising Consumption; Depleting Resources
Syrians Flee Persecution
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Britain's biggest retailer Tesco (TSCO.L) will stock its products at a Pakistani supermarket chain, a Tesco official said on Thursday, dipping its toes in a country of nearly 200 million with rising consumer spending and a growing middle class.
Tesco has been expanding rapidly in emerging markets to bolster sluggish growth in western Europe and is among a growing band of companies attracted by Pakistan's fast-growing consumer market, encouraged by the highest economic growth since 2008 and improved security.
"We have agreed on a wholesale partnership with Alpha Supermarkets in Pakistan, under which Tesco products will be stocked at two of its stores," Jared Lebel, head of new market development at Tesco, told Reuters.
He said that Limestone Private Limited, which owns the Alpha Superstores chain, planned to open 50 smaller express stores and four Alpha stores stocking Tesco products within the next three years.
"We are excited about Pakistan as a market," Lebel said. "A big factor in coming to Pakistan is rising consumer spending."
A spokesman for Tesco in London said: "We're looking forward to seeing how customers respond."
Fauzia Khuhro, head of business development at Limestone, told Reuters that Tesco products would hit its shelves in about 10 days.
"Alpha Supermarkets will be the only retailer in Pakistan that stocks Tesco private-label products," Khuhro said. "We will offer a complete range of Tesco product categories, from food and non-food items to frozen and fresh foods."
Tesco's partnership with Alpha Supermarkets was announced by British High Commissioner Thomas Drew and Limestone at a press briefing in Karachi on Tuesday.
Minister of Information and Technology Anusha Rehman has today announced that Alipay will be working in Pakistan very soon. She was speaking at the National Competition of Final Year Projects at Islamabad. The event was organized by National ICT R&D Fund.
While speaking with the winners and participants of the event at the closing ceremony, Anusha Rehman reiterated the mission of Pakistan’s Government to connect the unconnected population of Pakistan with Internet and technology. She mentioned that Prime Minister of Pakistan has recently signed a MoU with Alibaba, the ecommerce giant of China. She added that Alipay, another venture of Alibaba, for online payments will soon be available in Pakistan.
For the uninitiated, Alipay is a third-party online payment solution. The platform has the biggest share in China’s market and most of the online payments in China are processed by Alipay.
Alipay is a venture of AliBaba Group which means that the recent collaboration between Government and AliBaba will finally pave the way for an online payment platform in Pakistan.
An online payment solution will mean huge growth and transactions influx in the ecommerce industry of Pakistan. Previously, Anusha Rehman has been quoted as saying that the government is working hard to bring Paypal and Amazon to the country but nothing could materialize on that end.
With the ever growing friendship between Pakistan and China, it seems that if not Paypal, Alipay will be available in the country very soon.