Black Friday sales important for businesses post-pandemic recovery: SMEs lobby

The upcoming Black Friday sales play an important role for local businesses recovering from the pandemic, according to the head of a leading business lobby. 

“Throughout the pandemic, we learned about the importance of supporting our local businesses, and this year’s Black Friday offers play an important role in these companies' recovery,” Abigail Mamo, CEO Of the Malta Chamber of SMEs said on Friday.

She spoke to Times of Malta following the launch of the lobby’s new website that provides details on the Black Friday offers provided by different businesses, ranging from offers on electronics to home interior and fashion outlets. 

Black Friday, which originated as a US custom held on the day after Thanksgiving is now considered the biggest shopping event of the year worldwide. 

This year, Black Friday falls on November 25, yet a number of local retail businesses have adopted the trend to extend their Black Friday offers to the whole month of November. 

“In the past, November was seen as a shoulder month, yet now, Black Friday is a way for businesses to get a head start in Christmas sales,” she said. 

From left: Philip Fenech, head of Chamber of SMEs Paul Abela, Economy Minister Silvio Schembri and Chamber of SMEs CEO Abigail Mamo on Friday. Photo: Jonathan Borg

When questioned whether businesses have been impacted by inflation and the rise in the cost of living, Mamo said special offers are beneficial for customers who are cautious of their spending. 

"While taking note of the impact the cost of living has had on our economy, we have seen a positive and consistent trend of local consumption this year," Mamo said.

“I believe Black Friday offers are positive for those consumers who might be concerned about the increase in the cost of living, as this gives them the opportunity to look out for the best deals and offers.”

Speaking during the launch of the website, Black Friday Malta, Mamo said close to 200 local retail outlets will be offering discounts to consumers this month. 

"The idea behind the website is to provide more convenience for the customer when looking out for the best deals," she said. 

All discounts can be found on one platform, apart from information on the offer itself. The website provides details on the opening hours of the business and if they provide delivers.

Businesses can create an account on the portal and input the details of their offers on the website themselves. 

Speaking during the launch, Economy Minister Silvio Schembri echoed Mamo's comments that Black Friday sales contribute to businesses "picking up the pace" to returning back to pre-pandemic sales.

He said looking at trends in local domestic spending there has been a stable increase month after month.