This past weekend has been a shopper’s dream, with deals ranging on fashion and beauty, to the latest technology. But does the nation’s favourite sales event, have any actual consequences?
According to research completed by Adobe, UK consumers are anticipated to spend over £2,000 each in the run-up to Christmas. And for the first time, sales in Great Britain grew faster in November than in December last 2017 according to the Office for National Statistics.
With an ever- growing online demand during Black Friday and Cyber weekend and Monday, tangible stores have seen no major increase in in-store purchases when comparing to previous years, the ONS, reports that between November 2010 and 2017 average weekly internet sales nearly tripled.
For the larger retailers not being involved in the Black Friday deals will result in competitors picking up the sales. In our current economic climate, this may not be the best decision for larger businesses.
However, the unfortunate reality is that despite the economic activity and growth created by the Black Friday Sales event is that independent shops suffer as they can’t compete with prices offered by larger retailers.
Whilst globalisation and commercialisation seem to be taking over, I personally find a real value to having quality and convenient local businesses on our high streets, so we must find ways to support them!
