Thursday, September 24, 2020

Black Friday to be the last hurrah before inflation hits


As this year‘s Black Friday gets underway shoppers all over the country will be scrambling on and offline to grab bargains.

Many analysts have said this would be the last chance for consumers to enjoy discount goods before looming price rises come into effect next year.

Early reports suggest the majority of purchases made this Black Friday will be online, as queues outside major retail outlets remain modest.

PCA Predict has said online records have already been broken this morning, with transactions between midnight and 7am rising 21 per cent since last year.

Moving away from the notorious shopping frenzies which call for retailers to ramp up security in stores, retailers this year have moved their resources to cyber security and ensuring online platforms can handle the spike in users.

READ MORE: Black Friday & Cyber Monday set to stay with popularity surge this year

The spend is predicted to reach £2 billion today, and over £4 billion by the end of Cyber Monday. 

However, countless top retailers have warned that 2017 will finally feel the repercussions of Brexit.  

Both Argos and AO World, who are leading retailers on Black Friday, have warned of inevitable price hikes next year amid the devalued pound.

“Obviously, with the Brexit currency movements, prices are going to go up in the first quarter of next year,” AO World chief executive John Roberts said.

“The vast majority of all Black Friday offers were negotiated and in place before Brexit.”

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