UK Black Friday sales break records and beat nearly all analyst estimates
Black Friday sales in the UK jumped 16.5 per cent compared to last year beating nearly all analysts expectations.
According to Barclaycard, which processes a third of all spending in the UK, this year’s Black Friday event saw transactions valued jump 16.5 per cent and transaction volumes rise 7.2 per cent.
“It was an outstanding Black Friday, especially compared to last year’s record breaking results,” Barclaycard said, adding that “once again Black Friday has continued to be a fantastic opportunity for retailers and consumers.”
This was supported by reports from Springboard suggesting footfall also jumped 3.3 per cent compared to the same day in 2018, peaking at around 5pm.
These figures are a dramatic improvement on Springboard’s predictions of a 4.5 per cent drop in footfall over Black Friday weekend.
Other leading retail analysts including GlobalData and IMRG also predicted sales growth of between two and three per cent, going so far as to predict that “sales could well be flat or even negative”.
“This positive result may well seal the deal for retailers in terms of their commitment to Black Friday moving forward, as they will have claimed shoppers early on in the Christmas trading period giving them the opportunity to steal a march on their rivals,” Springboard’s insights director Diane Wehrle said.
Further data from ShopperTrak suggests high street footfall rose as much as six per cent.