Retail sales in London’s West End are anticipated to reach £150 million over the Black Friday weekend, according to an organisation that represents over 600 retailers in the famous district.
The New West End Company said that because Black Friday this year will fall before most people’s monthly payday, combined with consumers tightening their purse strings throughout the year, retailers will be “pulling out all the stops” to ensure they create an appealing offer to attract early Christmas spend.
The organisation expects many of the district’s retailers would opt to focus on experiential moments, sharing knowledge and exclusive in-store only promotions to draw shoppers into West End to spend or browse.
“Retailers across the West End are looking forward to the busy Christmas season, which kicks off with Black Friday weekend,” New West Company head of insight Kyle Monk said.
“Despite a tough year for retailers, we predict that Black Friday spending in the West End will be on par with last year and a significant £150 million will be spent as visitors take advantage of special offers to help in their gift buying.”
The news comes two days after retail footfall analysts at Springboard forecast that Black Friday will do little to help the beleaguered high street around the UK, with footfall poised to drop 3.7 per cent compared to Black Friday 2017.
For the weekend the weekend that follows, footfall is expected to drop 2.7 per cent year-on-year.