Posted 23rd Nov 2018

Black Friday footfall expected to drop this year

By KBBDaily on 23rd November 2018 - 08:00am
money matters, springboard, black friday, shopping, online, footfall, high street, retailer, retail, kbb, kbbdaily

Footfall on Black Friday is expected to drop by 3.7% across the UK this year compared with last year, according to retail analysis firm Springboard, as consumers “abandon the high street and head online to buy”.

The weekend as a whole is expected to see a 2.7% drop in footfall, Springboard added, revealing that “the UK’s appetite for this pre-Christmas spending spree may be wavering”.

According to Springboard, many retailers are “deliberately focusing on directing consumers online rather than in-store” during the Black Friday period, with online transactions expected to rise by 4% this year. However, this is lower than the 5.5% rise experienced last year.

The footfall figures and “limited growth” in online transactions are also likely to be “exacerbated by the heavy discounting that has been taking place almost continuously throughout the year, together with the widespread debate around whether Black Friday discounts are discounts at all”, Springboard added.

“Whatever happens on Black Friday, our data over the past few years has established that it brings Christmas spending forward,” said Springboard marketing and insights director Diane Wehrle.

“This creates a magnet of spending activity at the beginning of the peak trading period which then suppresses spending until the final week before Christmas, when consumers take advantage of last minute deals that are likely to be introduced by retailers to drive sales in what is a highly challenging trading climate.”

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