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Record Black Friday Ahead for UK

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British retailers’ websites, and to a lesser extent their stores, were awash with discounted goods on Friday as shoppers chased “Black Friday” deals in a spending spree that is expected to top last year’s record level.

Shoppers were looking for bargains ahead of an expected rise in prices in 2017 as a weaker pound starts to push up the cost of imports, putting household finances under pressure.

Last year marked a change in the nature of the U.S.-imported event. It generated record revenue but was unexpectedly subdued in terms of store-based sales, with shoppers put off by bad weather and memories of chaos and scuffles in 2014. This year, shoppers are expected to focus even more on online offers.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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