Barclaycard, which has more than 10mln customers in the UK, said the volume of payment transactions on Friday is 16% higher than the same day last year. However, the amount customers spent fell by 21%, suggesting Britons have been purchasing more small ticket items this year.
#BlackFriday 2018 spend alert update:— Barclaycard News (@BarclaycardNews) 23 November 2018
16% increase in the volume of payment transactions vs. the same period on Black Friday last year
21% decrease in the amount spent compared to Black Friday last year pic.twitter.com/ok3rP41l9h
Retailers are hoping customers spend enough over Black Friday, Cyber Monday and Christmas to boost sales after a difficult year.
Subdued customer spending and tough online competition have dragged on sales at retailers this year, leading to the collapse of Maplin and Toys R Us and prompting others, like New Look and Marks & Spencer Group PLC (LON:MKS), to close multiple stores.