Record Black Friday Ahead for UK

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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MP

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.