uk retailers look to black friday to kick start christmas sales
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

UK retailers look to Black Friday to kick start Christmas sales

Arab Today, arab today

Arab Today, arab today UK retailers look to Black Friday to kick start Christmas sales

We expect more retailers to take part this year
London - Arab Today

After suffering their biggest decline in sales volumes for four-and-a-half years in October, British retailers are pinning their hopes on Black Friday discounts to get shoppers spending again.
The annual promotional event was imported from the US into Britain by Amazon in 2010 and has got bigger every year, even if — after chaos and scuffles in stores in 2014 — it has returned to being a mainly online affair.
Research firm GlobalData forecasts UK spending during the Black Friday period — defined as Monday November 20 to Monday November 27 — will grow 3.8 percent year-on-year to £10.1 billion (SR50.17 billion), or about 10.4 percent of their total estimate for the last three months of the year.
“We expect more retailers to take part this year in an attempt to stimulate the waning demand they have faced over September and October,” said GlobalData’s Eleanor Parr.
Consumer spending — the engine of British economic growth — is being squeezed as inflation rises and wage growth falters, and as shoppers worry about the potential impact of Brexit.
Earlier this month, the Bank of England added to the pressure by raising borrowing costs for the first time in a decade. Last week, official data showed UK retail sales volumes fell 0.3 percent year-on-year in October, though the numbers were distorted by a strong October last year.
Black Friday, the day after the US Thanksgiving holiday, was so named because spending would surge and retailers would traditionally begin to turn a profit for the year, moving from the red into the black. It falls on November 24 this year.
Its popularity has meant Britain’s Christmas trading season now has three peaks — around Black Friday, the week up to December 25 and the post-Christmas sales.
Like last year, retailers including Amazon, Dixons Carphone and Sainsbury’s Argos are stretching promotions over one to two weeks, hoping to smooth out demand and reduce pressure on supply and distribution networks.
However, analysts say a drop in sterling since Britain’s 2016 vote to leave the European Union has driven up import costs for retailers, squeezing their margins and meaning they may not be able to offer the scale of discounts seen last year.
Shoppers are likely to be checking prices carefully too, with several consumer groups warning some Black Friday deals are no better than other sales during the year.
Among retailers, Black Friday still divides opinion.
Supporters argue carefully planned, targeted promotions with global suppliers allow them to achieve a sales boost while still maintaining profit margins.
But critics say the discounts suck forward Christmas sales that retailers would otherwise have made at full price and can dampen business in subsequent weeks.
“I bet most retailers wish it was an American import that never arrived,” Steve Rowe, Marks & Spencer’s chief executive, told reporters this month.
M&S will not be participating this year.

Source:Arabnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uk retailers look to black friday to kick start christmas sales uk retailers look to black friday to kick start christmas sales

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uk retailers look to black friday to kick start christmas sales uk retailers look to black friday to kick start christmas sales

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks

GMT 11:06 2017 Wednesday ,27 December

Bahrain tourism projects valued at over $ 13 billion

GMT 20:35 2011 Tuesday ,10 May

New exhibition of Islamic ornaments

GMT 19:52 2016 Friday ,19 August

Nice joins wave of French towns banning burkinis

GMT 03:46 2017 Wednesday ,06 September

US-backed Syrian forces seize Raqqa mosque

GMT 22:22 2017 Friday ,15 December

BDF Military Museum open on National Day

GMT 09:47 2015 Wednesday ,02 December

Ryanair launches court action against Google, eDreams

GMT 10:46 2017 Wednesday ,22 March

Japan's February trade surplus hits multi-year high
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday