Black Friday transaction volumes show 'marginal increase', according to Barclaycard
Black Friday sales had shown a 'marginal increase' year-on-year by 1pm today, according Barclaycard Payments – which processes £1 in every £3 in the UK.
The volume of transactions were up by 0.7% overall but the all-time record for transactions was broken between 12pm and 1pm today as shoppers made use of their lunch-breaks to bag a bargain.
With many retailers beginning their sales early to encourage nervous shoppers to part with their cash the volume of transactions in the lead up to the event was strong with volumes of transactions up 3.46% week on week.
This is the first Covid-restriction free Christmas for three years and the figures are strongly up on pre-pandemic with transactions volumes up 4.9% on 2019 before the pandemic hit.
Early transaction volumes were steady year-on-year with a flat performance year on year by 10am.
Marc Pettican, Head of Barclaycard Payments, commented: “Despite the rising cost-of-living, it's clear there is still appetite to bag a Black Friday bargain. While shoppers may be tightening their belts overall, it looks like some have been holding back on purchases to wait for the sales to start and others are likely on the hunt for deals for Christmas gifts. Many more will also be heading to the pub early to secure a seat for England's World Cup match against the US. Sales volumes holding up against last year will come as welcome news for retailers against the challenging economic backdrop.”