Shoppers are predicted to go on a £1.97 billion spending spree today, setting a new record for Black Friday.
Analysts expect record sales, not least because the fall in the value of the pound is forecast to push up the prices of imported goods next year.
In a new move, retailers are now expanding Black Friday over the weekend and into Cyber Monday – an online-only event. The BBC reports that ‘the total for the next four days is forecast to rise to more than £4 billion once the weekend and Cyber Monday are included’.
By Thursday, the discount retailing site TopCashback reported a 30 per cent increase in spending compared to last year. And according to the online retailing association IMRG, more than half the spend on Black Friday will be done online. Claire Davenport, of VoucherCodes.co.uk, said that shoppers were expected to spend £2.31 million a minute this year. Clothing will be the most popular item, followed by TVs and beauty products, according to TopCashback.co.uk.
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