Nov 29, 2019
UK Black Friday transactions jump 12.5% versus 2018 - Barclaycard
Nov 29, 2019
The volume of Black Friday payment transactions in Britain as of 1000 GMT was up 12.5% versus last year, initial data from Barclaycard showed on Friday, bringing some cheer to UK retailers in need of a tonic after a troubled year.
Barclaycard, which processes nearly one pound ($1.28) in every three pounds spent in the United Kingdom, said its data showed transactions had also been strong throughout the week of Black Friday.
"With many retailers spreading their deals out throughout the week, they will be encouraged to see this hasn’t cannibalised sales volumes on Black Friday itself," it said.
The firm did not give a figure for the year-on-year movement of the value of sales. Last year transactions increased 10% versus 2017.
With recent UK consumer spending subdued, Brexit still unresolved and a Dec. 12 national election creating new uncertainties, retailers have been hoping for a boost from Black Friday discount events that were first brought over from the United States by Amazon in 2010.
Analysts have suggested Black Friday sales could be helped this year by its fall on the last Friday of the month, which coincides with payday for many.
Department store group John Lewis said the busiest shopping hour online between midnight Thursday and midday Friday was between 0900 GMT and 1000 GMT.
With harsh lessons learnt from past Black Fridays, British retailers are stretching promotions over several weeks, aiming to smooth out consumer demand and reduce the pressure on supply and distribution networks.
U.S. consumers splurged more than $2 billion online in the first hours of Thanksgiving shopping on Thursday, while crowds were limited at retailers on the eve of Black Friday, reflecting the broader trend away from shopping at brick-and-mortar stores.
© Thomson Reuters 2023 All rights reserved.