Retailers are hoping for a boost, as shoppers prepare to spend a record £2.44 billion on Black Friday.
Friday will see one of the biggest shopping days of the year as people do early Christmas shopping.
Despite the lull in sales over the year, £1.5 billion is expected to be spent online.
“Black Friday is now well established as one of the prime pre-Christmas shopping days with millions being spent and made in minutes, both on and offline,” said Jimmy New, who is the marketing director at Vouchercodes.co.uk.
“The date provides a real opportunity for retailers to boost sales with strategic discounting and offers but it’s vital to ensure online channels and bricks and mortar stores are prepared for the influx of additional traffic and footfall.”
“Planning ahead for the day will ensure that retailers can truly capitalise on the date and won’t fall foul of the mistakes made in 2014 – the year where Black Friday really took off, retailers’ websites crashed and traditional bricks and mortar stores saw massive overcrowding.”
Across the whole event, which can last up to two weeks for some retailers, Britons are expected to spend £10.4 billion in total.
Of this £10.4 billion, 24% is expected to be spent on clothing, 23% on personal electronics and 23% on home electronics.
Shoppers are warned to make sure that they are actually making savings during the US-inspired event.
“Black Friday plays on the excitement of spending while frictionless finance and cheap credit puts that buying buzz within everyone’s grasp,” warned Jon Holt, who is the head of financial services at KPMG.
“Our poll found that 51% of respondents didn’t even think the discounts they’re offered on Black Friday are a genuine saving! Having an economy disproportionately built on debt is not sustainable for consumers, retailers or financial services.”
