Black Friday promises a goldmine for online stores

Retail

The Black Friday sales day coming up on November 17 represents a huge opportunity for online stores. Some players make 10% of their total annual revenues on this day, but 7-8% is a reasonable expectation, according to e-retailer Extreme Digital.

In an interview with business daily Világgazdaság, Balázs Várkonyi, CEO of online electronics store Extreme Digital, citing data released by research firm GKI Digital, noted that revenues of online stores  may reach HUF 364 billion this year, up from HUF 310 bln in 2016, of which Black Friday revenues can easily amount to HUF 30-35 bln.

Electronics stores will put more than 100,000 products on sale on Black Friday, ranging from mobile phones to washing machines, and from refrigerators to boats. Várkonyi estimates that mobile phones will sell best, but also expects brisk sales of white goods and toys.

Normally, the traditional Hungarian shopping basket value is around HUF 3,000-4,000, but in online stores this increases to HUF 10,500, and can be as much as 30% more during Black Friday. Várkonyi said Extreme Digital will be able to deliver Black Friday orders within two weeks by courier.

At the same time, Hungarian postal services and couriers have already warned that deliveries during the Christmas period may suffer long delays due to labor shortages.

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