Retailers in London’s West End are braced for a £115.5m Black Friday spending spree as stores across the region take part in the promotional frenzy.
Businesses in Oxford Street, Regent Street, Bond Street and the surrounding roads are preparing to rake in the record-breaking revenues, which would represent a 5% uplift on Black Friday sales last year.
The sales bonanza will boost a predicted £2.34bn till receipt in the West End during the six weeks running up to Christmas.
The region is expecting £51.5m to be spent per day during the crucial trading period – or £5.1m per hour.
Many will also throw open their doors earlier and close later in order to take full advantage of the predicted influx of bargain-hungry consumers.
UK shopper spend ‘strong’
The New West End Company said spending from international shoppers, which has been buoyed by the slide in value of the pound since the Brexit vote, will contribute to the sales spike, but it also expects domestic spend to be “strong” across the Black Friday weekend.
New West End Company’s managing director for trading environment Steven Medway said: “We’re looking forward to welcoming visitors from across the UK and around the world to the West End this weekend.
“However, future challenges including further Brexit uncertainty and the prospect of business rates revaluation in April 2017, which will force West End businesses to pay an additional £125m a year in taxes, suggest a tough year ahead for retail trading.”
Retail Week Live has gone Black Friday crazy
Deals worth fighting over for the retail event of the year
- Our first ticket of the day is going for just £400 – that’s almost £1,200 off the full price
- The second to sixth tickets are then £550 each
- The next 10 tickets after that are only £700 each
- All other tickets once these are gone are two-for-one
- There are a limited number of tickets at a whopping 30% off
To buy tickets as part of this special limited offer contact
Andrew Falconer Borgars | 020 3033 4247 | Andrew.Falconer-Borgars@emap.com or
Jessica Sobey | 020 3033 2992 | Jessica.Sobey@emap.com or
Samantha Compton | 020 3033 4318 | Samantha.Compton@emap.com
More information and two-for-one tickets can be found at live.retail-week.com
Check out the programme jam packed full of thought leaders, industry trailblazers and even a few renegades. But don’t take too long. This offer is strictly for a limited time