With winter on its way and energy bills set to rocket, consumers are tightening their belts – and this will inevitably impact retail footfall over the Christmas shopping period. People are wary of what is to come, so spending on non-essential items is now few and far between for many.
For this reason, however, Black Friday will carry greater significance. Extreme inflationary pressures mean retailers are less able to offer discounts on high-demand goods over a sustained period, as they’ve done in previous years in the build-up to the retail event. This year, a one-time-only discount exclusive to the weekend will be a key strategy – appealing to consumers with tighter budgets, who are holding out for as long as they can to cross off Christmas shopping, and who are keen to take advantage of only the biggest discounts.