After retail sales plummeted in October, the Office for National Statistics (ONS) has said that the approaching Black Friday sales could be the turnaround for retail sales.
Head of retail at KPMG Paul Martin said: “The burning questions for retailers will be whether shoppers are holding off their purchases until Black Friday, and whether retailers can recover from this month’s poor performance to end the year on a high.”
This has certainly been true in the past, and the popularity of Black Friday has continued to rise exponentially in recent years.
Director of retail intelligence at Ipsos Retail Performance Dr Tim Denison believes that October’s sales may indeed be “symptomatic” of shoppers opting to break their piggy banks when their pounds will go the extra mile.
