UK shoppers are poised to spend £10bn over the Black Friday period this year, new research has shown.
Higher prices and an increase in the number of retailers taking part will push shopper spending up 3.8% year on year over the Black Friday period between 20 November to 27 November, retail research company Global Data has predicted.
The week will account for 10.4% of total fourth-quarter spend for retailers and Global Data predicts that more businesses will take part this year to kick start sales following sluggish October trade.
Eleanor Parr, retail analyst at Global Data said: “A lower proportion of Black Friday spend will fall on the Friday this year. Retailers have taken the opportunity to extend the event, both to encourage more consumers to participate but also to relieve operational pressures.
“We expect more retailers to extend their promotional calendars to include the whole week before Black Friday to stimulate demand as they continue to struggle this quarter.
“As more retailers advertise their Black Friday deals early, other players will be forced to participate to remain competitive. This is particularly tricky for retailers that price match, such as John Lewis, which will have no choice but to bring down prices early, impacting margins and stock levels.
“Retailers must prepare by ensuring they have the operational capacities to cope with an influx in trade over a sustained period.”