The Black Friday sales starting 2 weeks early
Up to 72% off as retailers face toughest Xmas for trading in over a decade
DESPERATE retailers are launching Black Friday deals two weeks early as a deep sales chill continues to grip the high street.
Yesterday eBay revealed a series of offers, while Currys PC World and Carphone Warehouse are also slashing prices.
Debenhams and John Lewis are currently running price cuts and ‘flash sales’ with savings of up to 72 per cent ahead of what could be the toughest Christmas since the world financial crash of 2007 and 2008.
Thousands of stores have closed this year and evidence suggests many others will struggle to attract shoppers during what should be the best sales period of the year.
Industry experts believe there could be little or no growth for online retailers around Black Friday and Cyber Monday period – November 29 to December 2 – which was imported to Britain from the US and has mainly been a web event, led by Amazon. As a result, City analysts believe retailers may be forced to deliver massive price cuts if they are to attract customers, who are tightening their purse strings because of Brexit uncertainty.
Amazon says its ‘biggest ever’ sale, offering savings on thousands of deals every day, will run for eight days from November 22. However, many others are already in full swing. eBay said it is launching a special offer of 20 per cent off big brands, including PlayStation, Converse, Samsung and even Apple, with an online coupon.
Currys PC World has launched Black Friday price cuts under the heading ‘ Why Wait?’ The company claims there are savings of up to £450 on Dyson, Nintendo and LG products.
It said: ‘These offers range across all categories, including computing, kitchen appliances, consumer electronics and mobile, meaning there is something to suit everyone.’ It is offering a guarantee that customers will be refunded the difference if prices fall further on Black Friday. Many fashion chains have been promoting price cuts since October, which are expected to run to Black Friday and beyond. Gap has been offering up to 50 per cent off winter clothing.
Offers at John Lewis include savings of 20 per cent on coats, boots and dresses and 30 per cent on knitwear. There are other savings on electricals and toys.
Meanwhile, Debenhams has been running an online-only flash sale offering savings of up to 72 per cent on selected lines in the women’s, men’s, children and home departments. House of Fraser, which is now part of the Sports Direct group, is promoting savings of 50 per cent. Official figures revealed this week that total retail sales in October fell 0.1 per cent compared to September. Overall, retailers are suffering their weakest trading growth for 18 months.
The appeal of Black Friday, which is seen as kicking off the Christmas shopping frenzy, has been diminished in recent years because people have doubted whether price cuts are genuine.
Ian Geddes, head of retail at financial experts Deloitte, said companies have tried to counter the slowdown with heavy discounting in October and by introducing Christmas product lines early. He said: ‘Falling consumer confidence in the third quarter, amidst ongoing Brexit uncertainty, is still impacting major purchases. Promotional days in the lead-up to Christmas are key dates in the retail calendar as consumers make early gift purchases as well as treat themselves.
‘The question is whether this could point to even bigger discounts for Black Friday and Cyber Monday, particularly for big ticket items.’ The trade body for online stores, IMRG, is expecting a tough period. Andy Mulcahy, of IMRG, said: ‘It won’t have escaped many people’s notice that 2019 has been a pretty tough year for retail.
‘The problems on the high street are well-documented, but online sales growth has been very subdued too.’
Mr Mulcahy said the prospects are not looking good for November and December, where many retailers make around a quarter of their entire annual sales.
He warned: ‘Shopper demand seems to be very suppressed. In short, it’s difficult at this point to see how the peak trading period is going to be anything other than weak from a revenue perspective, and may potentially even be completely flat.’
IMRG tracks 300 retail sites to assess discounting this month.
Mr Mulcahy said: ‘On the first Monday of the month, seven sites already had Black Friday campaigns live.
‘However, a further 138 had nonBlack Friday discount campaigns live, many of which were offering very high rates of discount.’
‘Doubts if price cuts are genuine’