Black Friday Becomes Major Retail Sales Event in Brazil

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – In its eighth edition in Brazil, Black Friday, is expected to consolidate the day after the U.S. Thanksgiving holiday as one of the main sales dates of Brazilian retail sales. A recent survey estimates that sales on this day alone with be close to R$2.2 billion, twenty percent greater than during Black Friday in 2016.

According to the survey, conducted by the Credit Protection Service (SPC) and the National Confederation of Shopkeepers (CNDL), more than 39 percent of consumers intend on making purchases this Black Friday. Of those interviewed 72 percent consider the date a good time to get something they need at a low price.

“It’s good for consumers to be able to take advantage of real opportunities and search for the lowest prices. The size of the discount, however, depends on whether you search the correct away, noting and comparing the search results. It is an exercise that requires patience and discipline, ” SPC Brasil’s chief economist, Marcela Kawauti says.

Yet while there has been an increase in the number of those saying they plan to take advantage of Black Friday offers, the survey also shows that almost forty percent say they plan to spend less than they did last year.

On average, consumers say they plan to buy at the most three products and spend about R$1,047.80, decrease of R$378.32 compared to last year, according to the SPC.

For those stating they will not adhere to the buying frenzy, lack of money (23 percent) and the still-negative economic moment faced by the country (eighteen percent) are two of the main reasons for some not purchasing goods during Black Friday.

Discounts this year are being given not only in electronics, toys, clothes and home appliances, but other sectors of the Brazilian economy have adhered to the big shopping sale day. Banks, like Spanish controlled Santander are offering discounts on their annual credit card fees while credit recovery companies are giving discounts on renegotiating debts, and investment firms have slashed brokerage fees for new investors.

Large fast food chains, like McDonalds and Burger King are giving customers free French fries refills and offering 2-for-1 milkshakes. Realtors, like Lello, are giving discounts of up to 35 percent on the first six months of housing leases and the prices of some mansions in São Paulo are at a discount this Friday.

And those who do not want material goods can still get in on the savings. Educational entities are offering those seeking MBA courses and exchange student programs receiving a discount if they sign up this week.

For Maria das Graças Oliveira, however, who waited hours in line on Thursday (November 23th) for the start of Black Friday sales at an appliance store in the Jundiai, interior of São Paulo, the hype has been disappointing.

“They promised big discounts but all I saw was R$10 here, R$20 there,” she told The Rio Times over the phone after finally purchasing a blender. “I think some of the prices were even higher than they were last week. I think all this hype is just a way to con us into purchasing things we don’t really need,” concluded Oliveira.