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High street's hopes for Black Friday bonanza unlikely to be realised
High street retailers’ hopes for a Black Friday bonanza this weekend are
likely to be dashed as more shoppers choose to do their bargain-hunting online.
Analysts predict an increase in spending on the day, with shoppers splashing out
£4.3bn, up more than 2% on last year.
But the number of visitors to retail destinations – including shopping malls,
high streets and retail parks – is expected to fall by 4.5% over the weekend,
despite retailers’ efforts to pull in the crowds with offers, according to the
shopper monitoring firm Springboard.
The fall in numbers will be another blow for stores, which have come under
sustained pressure from rising costs, the switch to online shopping and low
consumer confidence linked to political and economic uncertainty.
The expected decline is partly linked to the changing nature of Black Friday – a
US-inspired discount event that became popular in the UK in 2012.
In 2014 the scramble for cheap goods resulted in chaos at some supermarkets as
shoppers fought to grab limited stocks. Police and ambulances had to be called
to some outlets.
Now, instead of a single day of offers, most big retailers, including Amazon,
John Lewis and Argos, spread their offers over more than a week to ease pressure
on stores and home-delivery networks.
The switch to online also means shoppers can hunt for early bargains using
mobile phones rather than queuing up in the early hours to tussle over a
cut-price TV.
The expected decline is partly linked to the changing nature of Black Friday – a
US-inspired discount event that became popular in the UK in 2012.
In 2014 the scramble for cheap goods resulted in chaos at some supermarkets as
shoppers fought to grab limited stocks. Police and ambulances had to be called
to some outlets.
Now, instead of a single day of offers, most big retailers, including Amazon,
John Lewis and Argos, spread their offers over more than a week to ease pressure
on stores and home-delivery networks.
The switch to online also means shoppers can hunt for early bargains using
mobile phones rather than queuing up in the early hours to tussle over a
cut-price TV.
There were some high street queues last year – at Aldi, for example, where
shoppers lined up to buy Kevin the Carrot cuddly toys. But the overall number of
shoppers in stores was down 6%.
However, online spending rose 7%, according to the trade body IMRG. It said
sales growth had been dampened by the timing of Black Friday last year, which
put it ahead of the final pay day before Christmas for many.