The Black Friday shopping frenzy is here and it’s bringing with it some of the worst shopping conditions in recent memory.
On November 29, shoppers can’t be sure when the goods they are eyeing will be delivered, as many shops are closed and even some large retailers are not allowed to stock their goods.
Many of the South Korean brands that are selling out are selling their merchandise at a loss as they are unable to cover the costs of shipping and logistics, leaving them unable to make any profit.
Some of the retailers who are losing money due to the Black Friday rush are not even able to afford to rent space for their stores.
The stores that are not selling their items on November 29 are unable afford to make money.
“We have to make a big effort to maintain a good store environment and maintain a decent profit margin,” said Jang Hyun Joon, chief merchandising officer at a retail chain.
Even for the large stores that remain open, they are struggling to make ends meet.
Shopkeeper Sang Kyung-seok said his store, known as “Black Friday” in South Korean, had not made a profit since it opened in September.
“We are losing up to $3,000 a day on our rent for the space we are using, and we cannot pay for anything that needs to be shipped,” Sang said.
While some stores are making money by selling items they already have, other shops are losing millions of won ($2,200) a day.
They are facing a “death spiral”, said Sang, who has also been selling his goods online.
For example, he is selling the Black Thursday shirt, which is now out of stock, and the Black Saturday shoe, which he has been unable to sell.
‘The best’ store sales for South Korean shoppersThe stores selling the best products are also the ones selling out the most during the Black Fridays rush.
This is because many retailers are unable and do not want to stock products for Black Friday due to safety concerns, said Lee Byung-hoon, director of retail consultancy J.C. Lee.
According to Lee, there is also a shortage of inventory due to Black Friday.
A typical Black Friday retail sale is expected to attract more than 40,000 shoppers at most of the country’s big malls.
In addition, retailers have been making their products available at discounts on their usual prices to help consumers save money.
But for those who want to save money on their Black Friday spending, they can only buy from online stores.
“We cannot sell our products online due to our business, but our stores will still have discounts for customers who are willing to pay for our products,” said Jung Hye-young, a store manager at a local chain.
However, retailers are also losing money when they are selling merchandise at lower prices.
Sang Kyung, a sales manager at J.J. Lee’s shopping mall in Gyeonggi-do, said his sales department is losing money by not stocking the Black Tuesday items, such as the Christmas gifts and Easter eggs.
Jung said many of the smaller stores are losing as much as 10 to 20 percent of their profits due to these sales.
Lee Byung, director for marketing and business development at the J.R. Lee Group, said he is trying to stay as profitable as possible during Black Friday, but he is struggling.
“Even for our bigger stores, they have not been able to keep up with the demand,” he said.
“I don’t know how many shops we will sell during Black Thursday, but we will probably not be able to sell the products that we normally sell on Black Friday,” he added.
It is not just retail stores that suffer during the rush.
Many businesses in Korea are losing revenue due to low-end consumer electronics products, which are becoming increasingly expensive due to China’s rising purchasing power.
But the most important businesses in South Africa are also suffering from the BlackFriday shopping rush.
The government is trying its best to reduce the amount of people spending on Black Fridays, but the South African market is also becoming increasingly unstable.
With a population of just over 6 million, South Africa is the world’s third largest economy after China and India, according to the International Monetary Fund.
At the same time, there are only two countries that can claim to be the fastest growing economies in the world, China and South Africa.
South Africa’s economy is growing at a much slower pace than the United States, but this is due in part to a lack of jobs and high unemployment rates.
And South Africa’s jobless rate is almost double that of China.
South Africa is also facing a number of other challenges that have contributed to its rapid economic growth: a severe food crisis, rising unemployment, a stagnant population, and high levels of poverty.
Despite the country facing an acute food crisis and growing poverty