Sunday, November 25, 2018

Black Friday transactions jump 10 per cent on 2017, according to Barclaycard data

The number of transactions on Black Friday jumped ten per cent year-on-year but the amount spent plummeted compared to 2017, according to credit card data.

Consumers spent 12 per cent less while shopping using Barclaycard yesterday compared to Black Friday the previous year.

Barclaycard processed an all-time record number of transactions yesterday, hitting 1,087 transactions a second between 12pm and 1pm yesterday, which beats the previous high of 1,081 on 22 December last year.

Barclaycard payment solutions managing director Konrad Kelling said: “Our data shows that people have been making a higher number of less expensive purchases than at this time last year.

"This suggests that, while Black Friday is clearly encouraging shoppers to buy, consumers are more likely to be purchasing smaller ‘treat’ products, rather than splashing out on high-end items.”

However, data from Topcashback.co.uk suggests that consumer spending may have topped £1.5bn for the first time in a single day in the UK, as customers and retailers participated in the annual bargain hunting event.

Topcashback.co.uk UK director Adam Bullock said: “It goes to show that while many remain cynical about Black Friday, and it is clearly more important than ever to do your research and check you really are getting a good deal, there is a clear demand for lower prices and savings in the run up to Christmas.”

Popular items were electronics, fashion, health and beauty goods, and the biggest savings were on mobile phones, broadband packages and on department store purchases.

The retailers performing the best as of yesterday evening were Amazon, Ebay, Currys PC World, Debenhams and Look Fantastic.

The shopping event, which began as a day of sales in the US on the day after Thanksgiving, will continue through the weekend and end with Cyber Monday.


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