Long queues of a different kind... crowds and people "on top of each other." This is how the scene appears in countries around the world every year during Black Friday. Lebanon also has its share of this phenomenon, as evidenced by the queues and hustle, although these have diminished due to recent economic collapse, with purchases now limited to necessities.
This year's scene was different, with some stores emptied of goods while others sold millions... and the crowds returned. Is this a positive indication? Has the Lebanese returned to life?
“This year’s Black Friday was about 25 to 27 percent better than last year, and that is satisfying,” says the President of the Beirut Traders Association, Nicolas Chammas, to MTV, adding: “Several factors contributed to this. During the prosperous days, when the idea of Black Friday entered Lebanon, the goal was to clear out excess inventory. The Lebanese Ministry of Economy allows traders at certain times to offer discounts and clearances to liquidate stock. That was in the past, but today, after the crisis, traders are seizing any commercial opportunity not just to clear stock but to sell since sales have decreased significantly. Black Friday is no longer just one day for us; it has become Black Week and Black Month. Additionally, there are many traders participating, and there is now awareness among consumers about the potential benefits of Black Friday."
The customs dollar also has an effect, prompting some to buy many essentials on the basis of "we need to catch up." Was there a real impact? Chammas responds: “The matter of raising the customs dollar has positively affected sales during this period, which accelerated the purchasing process,” explaining, “We are on the brink of implementing the new customs dollar, and there is complete awareness among Lebanese consumers to seize this opportunity before prices rise. We must ensure that sales during Black Friday do not undermine the sales season during Christmas and New Year’s, as this period is very important for us, and that consumers have not purchased solely to take advantage before the application of the 15,000, leading us to lose out during other periods.”
All these factors have contributed to making this year’s Black Friday considerably better than last year, especially as the effects of COVID-19 and the repercussions of the port explosion on commercial infrastructure in several areas were still felt at that time, according to him.
