£10.4bn Black Friday sale promises to alleviate pressure on retailers
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.
Independent retailers have no chance of turning a profit on Black Friday, retail experts have warned, and should join a growing list of big names shunning the US import. more»
with the summer still in full swing, it might seem premature to start thinking about Black Friday but getting it right can take months of planning. more»
After the curtains drew on another Small Business Saturday, we asked a panel of small business owners whether the growing prominence of Black Friday threatens to undermine a day dedicated to supporting independent firms. more»
UK shoppers spent 6bn on Black Friday 2017
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