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Black Friday footfall expected to slump amid low consumer confidence


Black Friday footfall expected to slump amid low consumer confidence

Black Friday will do little to lift the mood of retailers in the UK as
store footfall is expected to drop by 4.5 percent.

According to new figures by retail intelligence experts Springboard,
high streets will be hardest hit, with a drop of 5.5 percent expected. This
follows a decline in footfall on Black Friday over the last two years, with
footfall falling by 5.4 percent and 3.6 percent in 2018 and 2017,
respectively.

Despite Black Friday falling a week later on payday weekend this year,
Springboard forecasts that consumers are unlikely to make trips to stores
as discounting throughout the year and scepticism over whether Black Friday
deals are better than those being offered generally means shoppers are
paying less attention to the shopping bonanza.

Commenting on the figures in a statement, Diane Wehrle, insights
director at Springboard, said: “For those who do choose to shop on Black
Friday it seems that that the decision will be more about ensuring product
availability in advance of Christmas rather than securing the lowest
price!

“These results reflect the low confidence of consumers that has been
impacting on their willingness to spend throughout the year. Consumers are
increasingly favouring experience and leisure-based trips over retail
shopping. Given the ongoing uncertainty in the run-up to the general
election, this is unlikely to change over Black Friday weekend.”

Consumers are also aware that many discounts are increasingly made
available exclusively online, making it more convenient to shop from home.
However, even online spending is likely to be muted over Black Friday. IMRG
is forecasting a rise in online sales over the entire Black Friday period
of just 2 to 3 percent but says there is a possibility that sales could be
flat.

Photo credit: FashionUnited



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