Black Friday sales expected to disappoint
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by Abi Moses on 25th November, 2016
With Black Friday encouraging a UK spendathon traditionally market movements have been encouraged. However, considering the year the UK has had many are sceptical of a success. Started in the US Black Friday follows Thanksgiving, crossing the Atlantic to become a prominent feature on the UK retailer calendar.
However, this year many retailers have questioned the logic of Black Friday, questioning why they should offer discounts during the busiest month of the year. One of the biggest examples of this is Asda, a UK supermarket giant owned by US Wal-Mart. Avoiding Black Friday all together Asda believes it supports its customers throughout the year, not requiring a specific day in order to treat customers to competitive rates. At the other end of the scale we have Amazon, an ecommerce big name that has introduces Cyber Monday and a Black Friday Deal Store, which runs until December 22nd.
City Index agrees, stating the that 'the impact of Black Friday’s sales may not be as large as it once was'.
According to City Index based on last year and the impact of the Referendum retailers may be hit hard today.
'Black Friday, the promo bonanza imported from the U.S., threatens to squeeze margins of UK retailers for another year, after they scrambled just weeks ago to keep consumers shopping after the Brexit vote.'
And whilst British shops have largely contained the hit from the one section of the economy that’s already been dented following by the referendum—prices manufacturers pay—retail mania, even just for a day is something many of them say privately they’d prefer to avoid.
This shift started last year when record revenues were seen but store-based turnover was weak or even lower year-to-year, as shoppers were put off by bad weather and bad memories from 2014.'
As one of the busiest trading days of the year many platforms are inviting traders through a range of persuasive techniques. Take a look at what our partners are offering on our homepage and make the most of Black Friday 2016.
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