Posted 30th November

Online retailers thrive on Black Friday 2018

By KBBDaily on 30th November 2018 - 13:40pm
money matters, springboard, black friday, shopping, online, footfall, high street, retailer, retail, kbb, kbbdaily

According to research firm Springboard, this year’s Black Friday shopping event was a “huge hit for online retailers but did little to help the struggling bricks-and-mortar stores throughout the UK”, with overall footfall declining by 5.4% compared with Black Friday last year.

“The drop in footfall to bricks-and-mortar stores over Black Friday weekend is a reflection of the larger discounts offered online,” said Springboard insights director Diane Wehrle. “Online is open for business 24 hours a day and is therefore seen as a more convenient option for shoppers.”

Shopping centres bore the brunt of declining footfall on the national shopping event with a drop of 8.3%, while high streets saw a decline of 4%. However, Springboard added that footfall did rise by 8.6% on Black Friday compared with the Friday of the previous week.

“Throughout the weekend, the drop in footfall was most dramatic in shopping centres; the stronger resilience of high streets and retail parks in comparison is likely to be a function of their wider range of hospitality outlets compared with shopping centres,” Wehrle noted.

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