For the first time since Black Friday became a retail phenomenon in 2013, analysts have predicted that footfall for the promotional day is set to dip this year.
Springboard has forecast that footfall will slow by 0.6% across UK’s high streets, retail parks and shopping centres. The drop is expected to come as households pull back from spending thanks to greater constraints on budgets, increasing interest rates and rising inflation.
Retail parks are expected to buck the trend slightly, with a 0.1% rise year on year as customers take advantage of services such as click and collect, as well as leisure offers at the parks.
Diane Wehrle, marketing and insight director at Springboard, said: “As well as consumers being more cautious with their spending habits due to inflation and interest rates rises, Sales have also already started so there is no big moment in the lead up to Black Friday. This will certainly affect footfall across the country for the Black Friday Weekend.
“Consumers simply won’t be as eager to spend because they have less money in their pockets and they have already been spoilt for choice as retailers have unusually run sales in the last few months, crucially outside of the traditional discount periods.”