The troubled waters of the UK Retail economy had some relief last week with the results coming in of a successful Black Friday & Cyber Monday.
The UK’s troubled retail sector has been given a boost by Black Friday promotions, figures indicate.
Barclaycard processes £1 of every £3 say sales were up 7.1% compared with 2018, while sales value rose by 16.5%.
Over 1,200 stores closed in the UK in the first half of 2019.
According to the British Retail Consortium (BRC) chief executive, Christmas retail sales were the ‘worst year on record’ in the UK.
Compared to November and December 2018, retail sales were down 0.9% in 2019.
Footfall across UK High Streets rose 3.1% for the first time in 4 years with major shopping centres seeing a 5.2% increase.
Cyber Monday sales increased 6.9% compared to 2018.
The busiest trading day before Christmas should still be Saturday 21 December.
Retailers were poised for record-breaking Cyber Monday sales following blockbuster spending in this year’s Black Friday events, a forecast showed.
US consumers were expected to spend $9.4bn (£7.3bn) online on Monday, Black Friday, raked in a record $7.4bn.
$2.9bn in sales coming from smartphones.
Last year Cyber Monday delivered $7.9bn in US sales.
Troubled waters have calmed a little for now, but with protests and strikes seen in Germany, France and the UK as a result of this phenomenon, it is not yet plain sailing.