Economy

Bleak Friday: High Street shoppers abandon the High Street

It was a dark Friday, as shoppers abandon the High Street.

High Streets took a heavy blow. Black Friday deals did not entice shoppers back to the shops. 

Numbers were still below levels before the pandemic. Although high streets and shopping centers were busier this year than they were last, that was up 4.6%, overall visitors were still a fifth less than before Covid struck. 

Analysts Springboard said high streets were the worst affected, with sales – 26.5 per cent below pre-pandemic levels. 

No deal: Business was slow as High Streets suffered with Black Friday sales fail to entice shoppers back into shops

The best results were achieved in retail parks, although they still welcomed 11.5 percent less shoppers than the on. Black Friday, April 2019. 

Black Friday is a US import that British shoppers took up in 2010 after Amazon lured them on its website to attend the event. It wasn’t until 2013, however, that Asda, a Walmart subsidiary, took part in the event. 

While it has provided a sales boost for big retailers, it has been to the detriment of small shop owners. Former Marks and Spencer boss Steve Rowe was famously against it, telling reporters in 2017: ‘I bet most retailers wish it was an American import that never arrived.’ 

Shops around the country were hoping to get a boost pre-Christmas from cash-strapped customers taking advantage of the Black Friday Discounts 

The retailers faced with spiralling living costs and a weakening turnout in the lead up to Christmas had to be concerned by the low turnout. 

Shares In The Uk'S Biggest Listed Retailers Struggled With Next (Model Pictured) Shares Rising 0.1 Per Cent

UK’s largest listed retailers saw shares fall, with Next (model shown) shares climbing 0.1%

Clive, Shore Capital retail analyst Black Black Friday may not end up being a ‘notable turnaround moment’ as the cost of living squeeze bites. 

He According to the article: “Whilst shoppers will no question take a look and find the few genuine bargains out on the market, many will be holding back with essential bill rising, interest rates on rise, and council taxes. The smarter retailers are also more aware of the importance of Black Friday is known for its “Friday phenomenon”, but it’s much less pronounced. 

Analysts suggest that spending was spread more across the week, as households prepare for the World Yesterday was the Cup game for England and Wales. 

The UK’s top-listed retailers have struggled to sell shares. 

Next rose 0.1% or 6p to 5652p. M&S fell 0.8% or 1.05p at 125.7p. JD Sports dropped 0.9percent, or 1.15p., to 124.55p. 

Asos dropped by 3.5%, or 23p to 642p, and Boohoo fell by 3.2 percent, or 1.32p to 40.05p.

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Jacky

The author of what'snew2day.com is dedicated to keeping you up-to-date on the latest news and information.

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