Retailers are reporting record confidence ahead Black Friday and their crucial Christmas period, according to Barclays.
More than three quarters of retailers reported that they are more confident about Christmas trading this year (77%), and an even higher proportion (79%) expect revenue to increase, with 14% predicting their revenue will rise by more than 10%.
More than three quarters (77%) of UK retailers plan to hold a Black Friday promotion this year, up from 73% last year, with 69% expecting sales to rise compared to Black Friday 2014, and only 4% of those surveyed anticipating a fall.
More than half (56%) of the retailers surveyed said they expect mobile to be the biggest avenue of sales growth at an average of 52%.
Ian Gilmartin, Head of Retail and Wholesale at Barclays, said: “When Black Friday first came to the UK, the industry speculated about whether it was just a fad or would really take hold. This research shows that it appears to be here to stay, as for the first time, more than three quarters of retailers plan to hold a promotion. As long as retailers focus on selected lines and manage the level of discounting appropriately, this increased participation can contribute to a successful Christmas season.”