Spain takes on Black Friday as it falters in the US
Spain has joined the bandwagon of the pre-Christmas promotions just as they falter in America, the cradle of this consumerist tradition. Especially in retail, which has been declared bankrupt . The dominance of retailers like American Apparel, Gap and Walmart has been subjected to the success of brands such as H&M, Zara or Amazon. Additionally to layoffs and store closings, workers have protested demanding a wage of $15 per hour. This situation in the retail market is generating a domino effect that also has an impact on malls. According to New York Times, more than two dozen of these shopping centers have disappeared in the past four years, while another 60 could do so in the coming months.
The well-known ‘Black Friday’ marks the start of holiday shopping in the US, and is a relief to many companies. Except for retail, which is suffering an existential crisis. The consumerist tradition has entered Spain to stay.
Spain has joined the bandwagon of the pre-Christmas promotions just as they falter in America, the cradle of this consumerist tradition. Especially in retail, which has been declared bankrupt . The dominance of retailers like American Apparel, Gap and Walmart has been subjected to the success of brands such as H&M, Zara or Amazon. Additionally to layoffs and store closings, workers have protested demanding a wage of $15 per hour. This situation in the retail market is generating a domino effect that also has an impact on malls. According to New York Times, more than two dozen of these shopping centers have disappeared in the past four years, while another 60 could do so in the coming months.
