“This year Black Friday is expected to see unprecedented discounts and offers launched by a wide range of UK retailers. The US-driven sales day has taken root in the British retail calendar and many have planned for it, buying in lines specifically to discount on the day. It’s no longer confined to the electrical aisles of US-owned Asda or Amazon: instead its impact will be felt across the high street.
“Discounting just as UK consumers have received their last monthly pay packet before Christmas feels very counter intuitive: most have enough inclination to spend without the added impetus of an additional sales day. If price cuts spread from discount lines to in demand items, then strong businesses will be giving away unnecessary margin at a time when they could easily sell goods at full price.
“However, there’s no doubt that Black Friday can be seen as a day to kick start the run up to Christmas and this year could offer a ‘get out of jail free’ card to fashion retailers, helping them clear any stock overhang caused by the warmer weather.
“From a consumer’s perspective, this year’s Black Friday will be bigger and better than ever before. For retailers it risks being annoying for the strong, but opportune for the weak.”
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Notes to editors:
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.