Retailers to expect £10bn boost from Black Friday

Posted on

UK retail sales expected to get a £10bn Black Friday boost as 81% of UK shoppers expect to participate in the annual shopping bonanza.

Consumers are set to fork out £300 each on Black Friday bargains as retailers slash their prices for the US shopping phenomenon.

According to GlobalData, retail sales over the Black Friday week are forecast to hit over £10bn, boosting sales by 3.8%.  

Research from TSB showed that 80% of Brits shopped on last year’s Black Friday weekend, with over 80% of those claiming to have saved an average of nearly £100 each. Last year’s Black Friday was the biggest single day for retail sales in the UK.  

The report found that six in ten people say they are planning to hit the shops or head online this year, while 40% who plan to go shopping this weekend have already written a shopping list, and six in ten have a budget in mind. 

Craig Bundell, director of personal current accounts at TSB, said: “Christmas can be an expensive time of year so it’s encouraging to see that people can save money by making the most of the Black Friday deals on offer. However, with lots of deals out there it could be easy for people to push themselves over budget if they don’t plan ahead. A bit of forward planning and having a specific shopping list could make all the difference.”