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There are so many hot takes on Black Friday. It’s always either a record-breaking bumper Black Friday or a “bit of a damp squib”. (Can you tell I’ve lived in the UK for half my life?)
My point is that sometimes things are a little more nuanced than that, and Black Friday needs particularly careful interpretation this year. I went on BBC News this morning to discuss how retailers might have fared during one of the most important shopping events of the year.
Note: “might have fared” and that’s because when you do TV at 5:30am on Cyber Monday, you only have a few weekend released surveys to go on (see Nationwide, RetailNext).
This was the first real test of consumer sentiment following the Budget and, based on early data, it’s fair to say that the consumer still has a pulse. Consumers are feeling optimistic about their personal finances. Yes, there is understandable anxiety about the economic outlook (more on that in a sec), but right now they’re feeling confident in their ability to spend and eager to grab a bargain.
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