Black Friday continues to be a major shopping events for shoppers in the UK. John Lewis reported stellar results this year – £200m in revenues for Black Friday week – which was up 6.5% on last year. That’s 5 orders every second!
Whilst online took the lion’s share on the Friday and Monday, sales picked up over the weekend, as you might expect.
In total UK shoppers spent – wait for it – £2bn on the Visa cards on Black Friday, that’s a staggering about of money.
But Black Friday or the Black Friday weekend is not just an isolated event. Many retailers discount heavily in the days running up to Black Friday, thus, extending the period in which bargain hunters can spend with some retailers stretching the event for as long as they possibly can.
What’s interesting is, that despite the media coverage on the day footfall in shops rose by 2%.
Springboard, the retail analyst reported trips to retail parks and shopping centres fell.
The biggest pull for the consumer was electrical items – TV’s, sound equipment, kitchen appliances, etc – sales were up 11%
In the Food retail sector, waitrose reported sales of £136.6m last week, up 1.3% with beer and spirits the biggest sellers.
Whilst Black Friday seems to have been good news for many, the run up to this shopping events seems to be marred, according to a new report by KPMG.
However, in the three months running up to the November in-store sales declined 0.8% on a total basis and 1.1% on a like-for-like basis.
Paul Martin, UK head of retail for KPMG, said Black Friday (25th November) deals will have “lured would-be shoppers away from the high street” in search of bargains online”
He added: “The next month will be critical for retailers, providing one final push to improve and maintain sales figures against a backdrop of increasing costs and consumers’ insatiable appetite for discounts.”
However, not all retailer benefit from Black Friday – Retailers of clothing, saw weaker Black Friday week sales this year.