Black Friday is on the horizon again, and British retailers are set for success.
Since its journey across the pond, the huge sales event has become synonymous with the year-end shopping rush; it’s a game-changer when it comes to Christmas trading figures.
Despite Brexit and a general election looming, the year is likely to go out with a bang for retailers across the UK, as consumers are still looking to Black Friday discounts for a little pre-Christmas sparkle. In fact, spending is set to reach £2.53 billion on November 29, with shoppers spending a record 3.4% more than they did in 2018, according to recent figures.
The report, carried out by the Centre for Retail Research for VoucherCodes, predicts a total spend of £8.57 billion in the course of the four-day Black Friday bonanza, factoring in Cyber Monday.
Regarding customer confidence, a VoucherCodes spokeswoman said: “it looks as though enthusiasm for Black Friday is showing no sign of slowing down in the UK, with total spend up 3.4% on 2018”.
The UK is likely to top the rest of Europe, with consumer spending soaring 29% higher than second-place Germany and exceeding that of Spain, Belgium, Italy and The Netherlands combined.
The report takes into account the fact that many retailers will extend discounts across a 14-day period, with a total spend of £29.57 billion occurring within this two-week timeframe.
As Black Friday is occurring marginally later this November, VoucherCodes has highlighted the potential for this to trigger “a greater sense of urgency among shoppers to get their Christmas shopping done over the deal-filled weekend.”
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