BLACK FRIDAY, ITALIAN STYLE: Italy is expecting a Black Friday boon thanks to vigorous online sales.
The Florence-based online luxury destination Luisaviaroma.com said it expects to cash in more than 7 million euros, or $7.4 million at current exchange, between Black Friday and Cyber Monday. The site, which sees an average of five million visitors per month, recorded 3,000 orders on Black Friday only last year.
Although the U.S. was the site’s biggest market on Black Friday last year, Luisaviaroma.com also said it registered record sales in the U.K., China, Germany and Canada, and Italy. The company also owns a flagship store in Florence and overall the company is expecting to end the year with 120 million euros, or $127 million, in revenue, with 90 percent coming from e-commerce sales.
For the first time, American Express has launched a Black Friday-themed campaign in Italy. Running from Nov. 25-26, the company’s smart shopping initiative aims to grant clients access to special discounts and promotions. The card’s owners will get a 25-35 percent discount on selected brands, including Tommy Hilfiger, OVS, Pinko and Kiehl’s, among others.
According to ISTAT, the Italian statistics institute, at least one in four Italians benefitted from the Black Friday discounts to buy Christmas gifts last year. ISTAT believes that trend will continue, due to discounts of up to 50 percent on fashion and design products.
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