A disappointing Black Friday for in-store retailers
In-store retails sales this Black Friday were disappointing for many retailers
Most retailers had high expectations of bumper sales on Black Friday, November 23, but data from retail management platform Vend shows that that in-store retail spending decreased from 2017 with a 10% drop in spending and a 2% drop in sales volumes. On the upside, major centres showed positive sales growth, with Pretoria jumping by 19% compared to the weeks before Black Friday, Cape Town showing a 13% increase in sales and Joburg a 10% increase. Pretoria was the only city centre to show year-on-year growth, equating to 20% more than 2017. Vend’s figures show that the 10% drop in spending took place despite the fact that retailers were offering a 5% increase in discounts compared to 2017, with the average discount offered by stores as high as 20%. Higor Torchia, Vend’s country manager for Europe, the Middle East and Africa, says that despite reports that shoppers were eagerly seeking Black Friday discounts, data shows that Black Friday 2018 fell short of expectations, even taking int...
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