Double-digit inflation has dented consumers’ purchasing power and their confidence is also at or close to the gloomiest on record as soaring energy bills add to the spiralling cost of living.
Britons will spend £8.7-billion over the Black Friday weekend , according to research by GlobalData for VoucherCodes – up 0.8 per cent year-on-year but masking a big drop in volumes once inflation is accounted for. This year, consumers will use Black Friday, which has become more of an online event, much more for jumping on spontaneous deals and for Christmas gifts, rather than for bigger, delayed purchases, according to consultants McKinsey.
In France, 70 per cent plan to shop on Black Friday and Cyber Monday, according to research by PwC France. However, the Spanish are less keen, with just 24 per cent of shoppers planning to take advantage of Black Friday deals to get a head start on their Christmas shopping, according to the Spanish Association of Mass Consumer Goods Companies.