Black Friday, November 29, traditionally brings significant benefits to retailers, including increased sales volume and a chance to acquire new customers. It also offers valuable marketing exposure, driving higher online traffic and bolstering brand presence. Furthermore, Black Friday can foster customer loyalty through appealing deals and positive shopping experiences. However, there are challenges, such as deep discounts eroding profit margins, supply chain strain, and the rising costs of extra staffing and marketing. If the event doesn’t meet sales expectations, over-reliance on Black Friday can also pose risks for retailers. For Romanian Flip,ro, a startup specializing in refurbished electronics under the eMAG group, Black Friday – please note the different timing – proved to be exceptionally successful this year.
Flip.ro’s Black Friday performance
The company reported a 43% increase in sales compared to last year, bringing in over € 4.3 million. They run a Black Friday campaign from 7 November to 12 November. Flip.ro also saw a significant rise in product orders, reaching over 9,000 items, a 36% increase from 2023. The Apple iPhone 13, iPhone 14 Pro, and iPhone 15 Pro Max being the top-selling products. To put this into perspective, Flip.ro reported a total revenue of € 56.4 million in 2023. This year's Black Friday sales would have accounted for nearly 8% of the total revenue.
Flip.ro’s strategy involved offering deep discounts on already low prices for refurbished and used devices, positioning its refurbished phones and electronics as high-quality, affordable alternatives to new products. "We’re redefining how consumers view electronics purchases with significant discounts on already low prices," said George Moroianu, co-founder of Flip.ro. The company invested in technology to ensure a smooth and secure shopping experience, particularly crucial during such a high-demand period.
Flexible payment options and rapid delivery
A noteworthy trend during Flip.ro’s Black Friday campaign was the preference for flexible payment options, with 25% of customers choosing installment payments. Additionally, the company committed to fast delivery, with all orders from the first day already on their way to customers, showcasing Flip.ro’s dedication to efficient service.
Flip.ro
Founded in 2019, Flip.ro is quickly establishing itself as a major player in the Eastern-Eruope refurbished electronics market. After joining the eMAG group in 2021, the company received € 8 million in funding to fuel its growth. Flip.ro now operates in Bulgaria, Hungary, and Greece, and has served over 400,000 individual customers and 14,000 business clients.
Market
Trade-in
Repair
Refurbishing
