According to retail analysts GlobalData, UK shoppers will be squeezing more of their Christmas spend into the Black Friday period (which starts on Friday November 29) inevitably leading to an increased strain on retailer profitability.
The company says that spend on promotional sales will rise 2.2% to £4.3bn, compared to a rise of 0.6% for non-food retail over the whole of Q4.
“Black Friday promotional sales continue to outperform the overall quarter as shoppers both delay spend that would have otherwise occurred before the event, while other shoppers bring forward spend, for example to capitalise on the low prices when purchasing Christmas gifts,” explains retail analyst Zoe Mills.
“However, its influence is waning as growth is forecast to be 2.2% versus 3.5% in 2018. We are also seeing an increasing number of retailers discount ahead of the promotional event, often depicting these sales as a pre-Black Friday promotion. It means that shoppers demand ever steeper discounts during Black Friday as they expect something more from retailers during this time.”
This year’s Black Friday weekend comes later in November than usual, falling on the payday weekend, ensuring consumers have more money at the right time to spend on the event.
Top: The Black Friday weekend will be kicking off on November 29.
