By Daniel Hunter
Black Friday helped retail sales to the fastest growth in more than a decade in November, according to the Office for National Statistics (ONS).
Retail sales volumes were up 1.6% compared with October, but compared with November 2013 they were up by 6.4%, the fastest annual growth since May 2004.
The traditionally US shopping bonanza led to huge numbers taking to the shops to get their hands on big discounts, most of which came on electronic items.
Sales of electronic goods were up 32% compared with November last year.
A tool from Branded 3, which can be found here, estimated that UK shoppers spent more than £500 million on Black Friday.
Keith Richardson, Managing Director Retail Sector at Lloyds Bank Commercial Banking, said: “Black Friday’s shopping frenzy provided the sector with a timely boost and retailers will hope that this momentum is maintained throughout the festive period.
“A combination of aggressive discounting and consumer’s determination to secure big ticket bargains ensured that electrical goods and household appliances were the standout categories. Clothing and footwear retailers used the event to reduce stockpiles of winter clothing, albeit to the detriment of their profit margins.
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