Stores in Peru will open over the weekend with discounts of around 70%. The intention is to boost the economy of shopping malls that expect a 7% growth in sales.
Black Friday, Cyber Monday and Shopping Day, the discounts days that move millions of dollars in just hours. The eighth edition of Shopping Day extends this year two days in which Peruvian consumers will find discounts on clothing, footwear and jewelry among others.
The president of the Association of Shopping Centers of Peru (Accep), Juan José Calle, explained that approximately 65 shopping malls in Lima and the rest of the country expects a 7% increase in sales and 9% in public assistance compared with the Shopping Day of the previous year.
In order to reduce the stock and get cash flow for the pre-Christmas season, more than sixty stores will be part of this edition of Shopping Day. Some of the companies that will be part of this initiative are Billagong, Columbia, Milano Bags, Crocs, Calvin Klein and Tommy Hilfiger, among others.
Black Friday is one of the clear examples of such a marketing strategy. This day has been the day with the most retail sales in countries like the United States since 2005.
Accep expects a growth of 7% in sales in this year’s edition
Between 2019 and 2021, 934 million dollars will be invested in Peru in shopping malls, according to the Ministry of Economy and Finance (MEF) in its update report for macroeconomic projections 2019-2022. In the fourth quarter of 2019 alone, Peru plans to open seven shopping centers, distributed between the capital and the city of Arequipa. The investment for these projects is estimated at 412 million dollars.
Consumption in Peru has evolved upwards, growing 1.2% driven by the country’s domestic demand, mainly due to the increase in private consumption, 2.5%. The president of the Gemio of Retail and Distribution of the Chamber of Commerce of Lima, Yolanda Torriani, explained that retail is the fourth activity with greater participation in the Gross Domestic Product of the country with 14%.
The Institute for Economic Research and Business Development (Iedep) projected that this year retail sector in Peru would grow 2.7%, driven, among other things, by the increase in electronic commerce.
The 2017 Global Retail Development Index referred to Peru as the Latin American country with the highest range of growth in the textile sector. At the same time, the retail union of the Chamber of Commerce of the country, assured that the sector would have a 7% growth in sales by 2019.
Online also moves cash
Another of the great days of discounts is the world-famous Cyber Monday, adapted to the terminology in Spanish as Cyber Monday. This day drives electronic commerce and is used in countries such as Colombia, Mexico, Paraguay and Argentina, as well as the United States and Europe.