Black Friday Fails to Deliver November Boost
5th December 2017.
Black Friday failed to deliver a much-needed uplift for the high street last month as non-food retailers such as fashion stores struggled, new figures show.
Monthly data from the British Retail Consortium (BRC) and KPMG showed sales across the sector rose by a “meagre” 0.6% in November compared to the same period last year.
This growth was almost entirely thanks to food retail, with consumers resisting purchases of non-food items, unless there was a significant bargain or promotion.
According to the report, it was the week leading up to Black Friday that performed strongest, with sales reaching 40 per cent higher than other weeks. It was also the biggest week ever for non-food products online.
BRC chief executive Helen Dickinson said the discounting event had “failed to fundamentally shift underlying trends in spending”.
Dickinson acknowledges that recent economic difficulty has made consumers more cautious with their spending, only making purchases where they see an “exceptional” bargain.
“That heralds a challenging festive period ahead for retailers and shoppers alike”, she warns.
The BRC report is the latest sign of the tough conditions facing retailers as consumers are squeezed by higher inflation, largely caused by the collapse in the pound since the Brexit vote.
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