Magazine Luiza Holding “Fantastic Sale” on Friday With up to 70 Percent Discounts

RIO DE JANEIRO, BRAZIL – Magazine Luiza has announced that it will offer discounts of up to 70 percent next Friday, January 3rd, the date of the 27th edition of its traditional “fantastic sale”.

All 1,105 stores will hold the sale event, opening their doors at 6 AM to welcome customers, who usually line up at the doors to ensure the best deals.

In this edition, the cities of Belém and Cuiabá, where the Magalu stores were open in 2019, will host the event for the first time.

Regarded as one of the great retail gauges for the coming year, last year’s edition yielded the equivalent to 15 days of regular sales, a performance similar to the 2018 Black Friday and considerably higher than the 25th edition.

Fabrício Garcia, vice president, and commercial director of Magalu, says that the company expects to sell once again the equivalent of 15 days of regular sales this year. This translates into an increase in sales compared to the 26th edition, since sales in 2019 exceeded those of 2018 (in the third quarter, more recent figures, there was a 47 percent increase over the same period last year).

“We’re having a good fourth quarter and feeling the economy heating up,” says the VP. “We are confident that the sale will be successful,” he says.

Without detailing the planned discounts (“the competition is watching”), Garcia believes that the categories most sought by consumers should be electronics and household appliances, typically “objects of desire,” he says.

In parallel, household appliances (such as coffee machines and electric pots) usually show good numbers due to impulse purchases. “These are items that we have plenty in stock,” explains the executive, so discounts are usually advantageous.

Super App in focus

In the 2019 edition, Magalu’s App, which was beginning to try out for the title of “super App”, was the most downloaded in the country. Now, the exclusive offers on this platform will again be launched, particularly for items that are only sold online, such as those with a lower average price.

“It’s a traditional store sale, which keeps getting queues at the doors, but now we also do it online, with just as aggressive discounts,” concludes Garcia.

Source: Infomoney