LONDON: Britain’s Retailers hope Black Friday Although shoppers will be able to spend on discount days, it is happening against the backdrop of rising living costs crisis the distraction of the soccer World Cup.
The UK will spend 8.7 Billion Pounds ($10.5 Billion) over The Black Friday Weekend (Nov. 25-Nov. 28, according to GlobalData for VoucherCodes) – A rise of 0.8% year on year which masks a large drop in volumes once inflation has been accounted for
Consumers are cutting back on spending due to rising inflation. Inflation reached an all-time high of 11.1% last October. This is a significant blow to disposable income. They have also started their Christmas shopping earlier in the year to help with budgeting.
Consumers will be using this year’s Black FridayConsultants say that e-commerce has become more popular online than ever before. It is used more to jump on offers and to buy Christmas gifts rather than for larger, delayed purchases. McKinsey.
Its research has shown that 25% of UK shoppers have already done Christmas shopping. However, only 1 in 10 are planning to do it most. Black Friday.
However, there are some consumers who may have different priorities. There is action in both Wales and England for these consumers. Friday At the World Cup
Europe’s retail industry fears that the Christmas season will be one of the most difficult in at least a decade. Shoppers are cutting back while costs rise, which could lead to a reduction in profit margins.
Many consumers are still keen to shop. Black Friday. Idealo, an European price comparison portal said that 65% online Italian shoppers were ready to buy a product in the event.
70% of French people plan to shop online. Black Friday According to PwC France research, Cyber Monday is the best day for you.
The Spanish, however, are less enthusiastic, with only 24% planning to take advantage. Black Friday According to the Spanish Association of Mass Consumer Goods Companies (SAMCC), Christmas shoppers can get deals in advance.
The National Retail Federation (NRF), the United States’ national retail association, predicted that holiday sales would increase at a slower pace in this year. Amazon however, is predicting its slowest revenue growth in any holiday period for years.
The UK has the following: Black Friday Trading period is very important for retailers like department stores John Lewis, Currys and AO World consumer electricals retailers, and general merchandise retailer Argos that are part of supermarket group Sainsbury’s.
But some major retailers, including Marks & Spencer, largely shun the event.
Since being shipped to the UK by Amazon more than a decade ago, Black FridayThough opinions differ on the value of retailers,
According to supporters, retailers can increase sales and profit margins by planning promotions in close collaboration with global suppliers.
Naysayers claim that discounts drive Christmas sales with lower profits and reduce consumers’ willingness to spend full price once again.