Black Friday Sales
Black Fridays have greatly helped in fueling retail sales in the past two years, a sector that was mulled with store closures, flagging sales and a slump in consumer confidence. With this venture, sales increased rapidly by 0.9 per cent in November, 2019 which is a result of online sales, high demand of electrical goods, furniture and clothing. It is said that foot traffic during Black Friday was in the neighborhood of 32.5 percent compared to the same time the other year.
This November sale saw a growth acceleration to 3.3 percent which apparently is reported to be the fastest increase in over 13 months. Many analysts say that non-food sales are non-consistent in spending patterns.
Black Fridays have greatly helped in fueling retail sales in the past two years, a sector that was mulled with store closures, flagging sales and a slump in consumer confidence.
Clothing, footwear and personal accessories saw an increase in purchase as sales jumped by 3.1 per cent.
On the other hand, sales of household goods shot up by 1.2 per cent while spending at cafes and other eateries went up by 0.9 per cent. It was noted that the Black Friday attracted more spending towards Christmas and slowly declined in the year 2020 rather than adding to the overall spending. Imports of consumer goods reduced sharply in November connoting that retailers are in for a slow 2020.