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Friday, 29 Nov 2019 07:00 pm

UK Black Friday transactions jump 12.5% versus 2018: Barclaycard

Barclaycard, which processes nearly one pound ($1.28) in every three pounds spent in the United Kingdom, said its data showed transactions had also been strong throughout the week of Black Friday.

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The volume of Black Friday payment transactions in Britain as of 1000 GMT was up 12.5% versus last year, initial data from Barclaycard showed on Friday, bringing some cheer to UK retailers in need of a tonic after a troubled year.

Barclaycard, which processes nearly one pound ($1.28) in every three pounds spent in the United Kingdom, said its data showed transactions had also been strong throughout the week of Black Friday.

“With many retailers spreading their deals out throughout the week, they will be encouraged to see this hasn’t cannibalized sales volumes on Black Friday itself,” it said.

The firm did not give a figure for the year-on-year movement of the value of sales. Last year transactions increased 10% versus 2017.

With recent UK consumer spending subdued, Brexit still unresolved and a Dec. 12 national election creating new uncertainties, retailers have been hoping for a boost from Black Friday discount events that were first brought over from the United States by Amazon (AMZN.O) in 2010.

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Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


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