High Streets Initiative · 14 November 2018

£10.4bn Black Friday sale promises to alleviate pressure on retailers

Black Friday 2018
UK shoppers spent 6bn on Black Friday 2017

Hard-pressed retailers are set for a welcome boost as shoppers get set to spend big on Black Friday 2018, new figures have revealed.

Figures from data and analytics group GlobalData revealed that Black Friday a promotional event coinciding with the US Thanksgiving celebrations will record a 3.1% sales growth on the same period last year.

It will be worth 10.4bn in the UK this year which, according to retail analyst Zoe Mills, will account for 10.5% of overall fourth quarter spend in a sector which has been battered throughout 2018 by uncertain consumer spending and higher costs.

Fashion & beauty will be the best performing sector during the Black Friday period with sales forecast to grow by 3.8% on 2017.

we have seen more clothing retailers participating in the event each year and while a number of big names such as Marks & Spencer are not participating, online pureplays such as ASOS, boohoo.com and Gymshark are encouraging consumers to move online to get a discount, said Mills.

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