How cost-of-living dey affect ‘Black Friday’

Black Friday sales

Getty Images

Retailers for Britain dey hope say pipo go spend money well-well to buy tins on ‘Black Friday’.

Even though e dey happun wen cost-of-living don high well-well and di distraction from di ongoing Fifa World Cup.

Britons go spend 8.7 billion pounds ($10.5 billion) over di Black Friday weekend wey go start from 25 November to  28 November).

Dis prediction na according to research wey GlobalData for VoucherCodes  do – a rise of 0.8% year-to-year wey dey cause a big drop for di sizes  once inflation dey accounted for.

Consumers reduce spending

Consumers don dey reduce dia spending as inflation dey increase.

Inflation reach di highest for 41 years  wit 11.1% for October-eat disposable incomes.

Anoda tin be say dem don start to buy Christmas tins early to help budget and finances.

Dis year, consumers go use Black Friday, wey don become more of online event, to jump ontop cheap deals to buy tins and Christmas gifts, instead of di bigger, delayed purchases, na wetin consultants McKinsey tok.

Dia research show say one quarter of UK consumers don already do dia Christmas shopping, while about one in ten dey plan to buy tins during Black Friday.

Some consumers fit, get oda tins wey dey important to dem as Wales and England go play match on Friday for di World Cup.

Retailers for Europe dey fear say di Christmas trading season fit be di worst in at least one decade as buyers no dey show face.

While di money wey dem dey spend to do business no dey show any sign say e go reduce as dem dey squeeze di margins of dia profits (gains)

Buy-buy for Holiday period

Many consumers still dey prepare to buy tins for Black Friday.

Idealo, di European price comparison portal, say 65% of online Italian buyers dey ready to buy one product during di event.

For France, 70% dey plan to buy tins on Black Friday and Cyber Monday, according to research wey PwC France do.

However, di Spanish pipo no too get interest, sake of say na just 24% of buyers dey plan to take advantage of Black Friday deals to start dia Christmas shopping.

Dis na according to di Spanish Association of Mass Consumer Goods Companies.

For United States, di National Retail Federation (NRF) don predict say holiday sales go rise small small dis year.

Amazon (AMZN.O) don also predict dia slowest revenue growth for any holiday period for many years.

For Britain di Black Friday buying and selling period dey important for Departmental stores groups.

But some major retailers, including Marks & Spencer (MKS.L), no send di event.
For more dan 10 years since dem bring am come UK by Amazon, di worth of Black Friday to retailers still dey divide pipo opinion.

Supporters say promos wey dem take time plan wit collabo wit global suppliers dey allow retailers to boost sales and maintain profit margins.

Pipo wey no believe am dey argue say di discounts dey push Christmas sales go front wit reduced profits and e dey also reduce di willingness of consumers to pay full price again before di festivities.

Wetin be Black Friday?

Black Friday na di day wey buyers fit buy some items for prices wey cheap well well pass di normal price between 24 hours.

Na shops and oda retailers design am to encourage pipo to start to dey buy tins before Christmas.

Na one of di very busy days wey pipo dey buy tins for di year.

Some eco-campaigners say Black Friday dey bad for di environment as e dey encourage pipo  to buy tins wey dem no need.

One 2019 report from di Green Alliance charity find out say 80% of evritin wey pipo buy during di Black Friday bonanza , e no dey stay long afta dem buy am, sake of say dem go troway am.

Di report also tok say for di bargains, evritin no dey always dey as e look.

One Campaign group say nearly nine out of 10 products wey dem sell on Black Friday dey available for di same price or cheaper earlier in di year.

Some online shops and departmental stores don also start Black Friday promos too.