Christmas spend forecast to slip despite Black Friday uplift
Black Friday sales confounded expectations as the post-payday discount bonanza delivered sales and footfall uplifts, but festive spend is still forecast to be in decline.
Online sales during Black Friday registered “outstanding” growth, with sales up 16.5% during the day year-on-year in transaction value terms and volume of transactions up 7.2% according to Barclaycard data.
Barclaycard, which processes approximately a third of UK payments, also recorded a 6.9% uplift in sales during Cyber Monday in transaction volume terms, while sales for the week to December 2 were up 7.1% year-on-year.
IMRG strategy and insights director Andy Mulcahy also said that in the week leading up to Black Friday, sales were “far ahead” of the 2-3% sales growth forecast by the online retail association earlier this month.
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