Black Friday Predictions
Today, is Black Friday.
Perhaps not our proudest import from across the pond, but in the short time it’s been since we have had to pleasure of the concept in our culture, retail sector profits across the UK have shown a positive change. Back in 2019, purchases were way up, both in terms of cash payments and on the card.
Barclaycard, which usually processes about £1 of every £3 spent in the UK, said it was an ‘outstanding’ Black Friday compared with the same date in 2018. It said transaction value was up 16.5% compared with last year, with the volume of transactions up 7.2%. Black Friday had continued to be a fantastic opportunity for retailers and consumers alike.
Being how the lockdown has kept many a high street store closed and many of us confined to our living rooms, England’s city centres will not be red hot with the sound of overly zealous shoppers this year. However, card payments will be up by a substantial amount due to increased payments over the internet on sites such as Amazon, we predict.
If previous information is anything to go by, todays Black Friday sale will be a big one – even if we can’t leave the house. A huge amount of money will be spent, and vast numbers of delivery drivers will have needed to cope with the packages that have been ordered. We’ll do an update next week to see how right or wrong we were about Black Friday 2020.