Spanish clothing retailer Mango has reported remarkable double-digit growth in sales during the recent Black Friday and Cyber Monday shopping events.
According to Reuters, the company’s global retail director, Cesar de Vicente, shared that Mango experienced record-breaking sales both online and in stores, attributing the success to discounts of up to 50 per cent off. Mango has plans to expand its presence in the U.S., aiming to double the number of stores to 40 by the next year.
De Vicente expressed confidence that Mango’s sales will maintain similar levels of growth throughout the remaining holiday shopping season.
“We had record sales in these days of operation, both online and in stores,” Cesar de Vicente told Reuters.
Mango’s strategy of offering discounts of up to 50 per cent, both globally and online, contributed to its robust performance during Cyber Week. The company is capitalising on its expansion in key markets like the U.S., Italy, and India.
With a focus on in-house design, a strong emphasis on party wear, and plans to increase the number of stores, Mango aims to compete with newer players in the fashion industry. Currently, the company’s online sales account for 36 per cent of its total revenues.
As the holiday shopping season progresses, Mango anticipates sustained growth levels, building on the momentum gained during Cyber Week. The company’s approach of providing substantial discounts aligns with the broader trend observed by the National Retail Federation in the U.S., expecting retail sales growth of 3 per cent to 4 per cent for the entire November-December holiday shopping period.
Mango’s expansion strategy and ability to offer competitive discounts have positioned it favourably in the retail landscape, enabling it to outperform pre-pandemic levels and achieve impressive sales figures in recent years.
(With inputs from Reuters)