On Black Friday European stores chased customers, especially in the UK, where this borrowed American shopping tradition has won great popularity.
Having gone through the largest decrease in the volume of sales for more than 4 years, UK stores are very much hopeful that discounts would attract more customers, whose budgets are pressured by inflation and little wage growth.
Notably, Philip Hammond’s statement on budget earlier this week hardly touched upon the subject of falling living standards and buying power in Britain.
The Black Friday sales taking place every year in Britain, usually centering on electronics, lately have shifted largely to Internet, after chaos and disorder in shopping centres in 2014. It is expected to be a hectic day for trade this year, as John Rogers, CEO of Argos retailer, belonging to the number two retailer in the UK – Sainsbury’s, said.
GlobalData company predicts that purchases in Britain in the course of the shopping campaign, which is taken as the period from Monday to Monday, that is from November 20 to November 27, will rise by 3.8% compared to the previous year and make up £10.1 bln or $13.4 bln.