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One of the biggest shopping days of the year will be with us this Friday. Black Friday earned its name because on this day it’s often the day that shops move into the black, meaning they have enough money to cover their costs. Many businesses across the UK will be taking advantage of Black Friday sales online and offline to boost their profits.
Results show that that last year the most popular type of item to be purchased throughout the sale was clothing and accessories with 29.1% of people, on average they were spending £97.02. Technology and electronics followed at 25.84% with an average spending of £293.17.
It also shows that people who live in London (63.1%) are more likely to hold off on their spends and wait for sales. The West Midlands came in second with 36.2% and closely followed by people in the North West.
Last year many customers were happier to purchase their deals in the comfort of their own home. It was reported that UK shoppers spent an estimated £2.1 billion online on Black Friday and during the whole of the peak period, which was a week, customers spent £6.45 billion.
If you have an ecommerce site you may want to think about launching your sale earlier. Many bigger brands have already started their Black Friday sales online so if you want your small business to keep up, think about starting it as soon as possible.
Quick capital has launched its Black Friday online sale at the start of this week, offering a 5% rate discount on all new business cash advances for this week only. The promotion ends midnight on Friday 24th November, don’t miss out and get in contact with one of our advisors today to take advantage!