Black Friday extended to five days as sales set to hit $3 bn
23 Nov 2015
Bargain hunting consumers in the UK are looking forward to an extra-long sale bonanza starting today.
High street and online stores could earn a record £3 billion as they launched the annual Black Friday extravaganza early and extend it for four days more to avoid another shopping frenzy.
Police had to be called in last year, as the annual discount bonanza saw ugly tussles in the aisles as shoppers fought over cut-price goods, including TVs.
Earlier this month, the UK National Police Chiefs' Council has warned retailers to ensure adequate staff and security to handle any seasonal sales, including Black Friday (See: UK Police warn retailers over Black Friday security).
Learning a lesson, shops have beefed up security and hope to cut the 24-hour panic-buying by offering deals over five days.
According to retail experts, spending this Black Friday alone, when most retailers join the price blitz, would hit £2.9 million-a-minute.
On Friday, total sales at shops nationwide are expected to hit £1.2 billion with £721 million spent online, according to credit card firm Visa Europe.
Purchases from today until Thursday are expected at £1 billion.
Over the five days retailers including Argos , Amazon and Currys PC World would offer thousands of bargains with daily flash sales and WIGIG – ''when it's gone, it's gone'' – deals.
Visa Europe boss Kevin Jenkins said, ''This is shaping up to be huge. Black Friday's growth is really accelerating, online in particular. That's where this year's surge will come from, mirror.co.uk reported.
Meanwhile, the looming Black Friday shopping frenzy had sparked a backlash with some retailers opting to keep out of the promotional activity.
Growing awareness about the retail phenomenon had also meant that over three-quarters of UK retailers were expected to hold a Black Friday promotion, according to Barclays Christmas survey.
''Retailers now face a prisoner's dilemma – if you know that there is a peak in trading and you don't participate, then you're leaving your rivals to mop up'', Mike Stewart, analyst at Panmure Gordon told The Telegraph.
However, a number of retail experts had sounded a warning saying Black Friday was encouraging retailers to sell at low-margins, or at a loss, at a time of year when they would usually be selling goods at full-price.
Asda, which had introduced the event to the UK three years ago, was now abandoning running the promotion in its shops. According to Asda chief executive Andy Clarke, during the promotion, sales in its core food business actually fell.
