Korean Black Friday Lost Consumers’ Credit
Korean Black Friday Lost Consumers’ Credit
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  • 승인 2015.11.14 11:00
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 ‘Korean Black Friday,’ which started from October 1st, got a frosty reception from consumers. This ‘Korea Black Friday’ is an event, which is a part of Korea’s grand sale to celebrate the 70th anniversary of Liberation Day, promoting the domestic demands and attracting foreign tourists. In this event, 71 department stores, 398 giant superstores, 25,400 convenience stores and many online stores participated in ‘Korean Black Friday.’ The period of this event averaged 2 weeks. There were a lot of hypes about ‘Korean Black Friday’ from the government, which spearheaded this event, and distribution industries that participated in it. This hypes raised consumers hope. However, most products’ prices were discounted only average 10-30%. Moreover, it made consumers dissatisfied with the products that got discounted. Even more, specific products are the goods in stock which were kept in the storage for years, not new products or newly released products. So consumers raised a stink about Korean Black Friday that it made absolutely no difference between the Black Friday sales and regular discounts. Actually, some distribution enterprises put the tag of Korea Black Friday on existing regular discounts. They sugarcoated regular discount to Korean Black Friday to daze consumers. Through these situations, consumers said it is better to buy products from US sites on American Black Friday even if they must pay expensive delivery charges. Experts said government’s spearheading, not conactive participation by distribution industries, nonparticipation of manufacturing companies like Samsung, made a big difference between Korea’s and American Black Friday. Korean Black Friday does more harm than good for consumers.

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