Walmart has decided that it is going to stage the black Friday event for five consecutive days; it seems the retailer is all set to make a new record in terms of the event and the growth of the company. Walmart took the decision to keep its hyper-markets open for the five days after other an army of large retailers stated their decision of opening early this Thanksgiving.
The retailer has decided to keep offering the discounted items for a period of five consecutive days starting form Friday 6 p.m. local time. This would allow the customers to shop within their budget and get an experience they have never had before. The decision to keep the discounted prices for five straight days is likely to ensure more customers. This shows that Walmart is serious about its revenue growth this quarter and sees the holiday season as a golden opportunity to attract more and more customers. The retailer has also released a list of items that will be available on a discount, which includes electronics such as TVs and major smartphone brands.
Walmart’s management has already announced five key main points and objectives of this extended period for discount rates opportunity for the general public. For these five consecutive days, customers will not only be able to enjoy great discounts, but they will also have the chance to participate in different types of activities and events that will be organized in different Walmart stores.
The number of deals has also been increased like never before; some of the brands that will be available on discounted rates include Apple, Samsung etc. Walmart will also allow an option of a one hour return back policy for its sold items during those five days.
The Walmart management has also stated that the retailer has made all necessary arrangements and taken important steps to successfully handle the huge inflow of customers that they are expecting for all five days. The giant retailer hopes to provide the customers with an easy and comfortable shopping experience despite the expected huge crowd.
Walmart predicts that because of the College and NFL season’s peak, more customers will show up as compared to last year’s Thanksgiving. Last year, Walmart served 22 million customers on Thanksgiving and this year with the black Friday deals on offer for five consecutive days, Walmart can expect to break its previous records in terms of sales, customers and revenue.
Walmart is looking to take advantage of retailer’s low prices on electronics, kitchen appliances and thousands of other popular products. Walmart needs to make sure that this plan goes through with perfection because for the 13 week quarter that ended on August 1, same-store sales were down by 0.3%. The stock value of Walmart has also taken a tumble and is down by 21% as compared to the value it had a year ago. Therefore this is a huge step taken by Walmart to improve on its current situation; only time will tell how smart this was by the giant retailer.