Tourists set to boost UK high street by £65M this Black Friday Weekend
LONDON, 22 November, 2018 – Savvy shoppers are set to splash over £3.1 billion this Black Friday weekend, with UK retailers expecting to take around 115 million transactions over the Black Friday weekend. Worldpay analysts have also predicted that thousands of tourists will flock to the Great British high street to make the most of the deals on offer.
Worldpay’s data reveals that Black Friday tourists will bring in an extra £65 million to the UK economy over the weekend . In particular, clothing and shoe retailers could see an uplift of up to 40% from foreign card spend compared to an average weekend. Electronics and beauty goods are also expected to fly off the shelves into the hands of Black Friday tourists.
European shoppers are set to be the high street heroes over the weekend, with Irish, French and Italian bargain hunters all making the most of the deals on offer. Visiting shoppers from Europe are set to spend 25% more compared to a normal weekend, pumping almost £35 million into the UK over the retail event .
Irish and Swedish tourists are set to make the most of the discount prices this weekend. UK retailers can expect to see an above average increase in spending coming from these Black Friday visitors, up 30% and 32% respectively, compared to a normal weekend .
|Biggest Black Friday Spenders5|
|1. Sweden – 32%|
|2. Ireland – 30%|
|3. China – 27%|
|4. Netherlands – 23.9%|
|5. Russian Federation – 20%|
Some of the biggest spenders this year will likely come from the Middle East, with shoppers from Kuwait spending almost £200 per transaction last year, whilst visitors from Qatar averaged £266 per purchase – a massive 885% more than UK shoppers who spent on average £27 per transaction.
UK Retailers across all sectors should see an uplift in sales over the Black Friday weekend, with electronics retailers predicted to see over 75% more transactions compared to a normal weekend . This will be a welcome boost to the British high street, with ONS noting a downturn from September to October across the retail sector.
Steve Newton, Executive Vice President of UK and Europe at Worldpay says: “Love it or loathe it, there’s no doubt that Black Friday has now cemented itself in the British retail calendar, giving an injection to the UK economy and kick starting the Christmas spending spree. It’s wonderful to see that while Brits are behind the majority of spending, our shops are enticing consumers from all over the world. It shows just how great the reputation of the Great British high street is, drawing people in from all around the globe.
“The surge of Black Friday tourists is too good an opportunity for businesses to miss. Retailers need to make sure they’re ready for business with enough staff to help customers, making use of mobile till points to queue bust and ensuring they have the right technology in place to take foreign cards seamlessly. For retailers that really want to get ahead of the game, it may be worth marketing to the top Black Friday tourist countries in the Middle East and Asia. With so much choice on the high street, these simple improvements could make the difference between a tourist dropping in or heading elsewhere.”
1 Analysis of card transaction data processed by Worldpay in the UK between 25/11/17 - 28/11/17 vs 24/11/16 - 27/11/16.
2 Analysis of non-UK registered cards processed by Worldpay. Predictions made based on 2017 Black Friday figures vs an average weekend (17/11/17 - 20/11/17).
3 Analysis of average transaction value of non-UK registered cards processed by Worldpay in the UK between 25/11/17 - 28/11/17 vs an average weekend (17/11/17 - 20/11/17).
4 Analysis of average transaction value of non-UK registered cards processed by Worldpay in the UK between 25/11/17 - 28/11/17 vs an average weekend (17/11/17 - 20/11/17).
5 Analysis of average transaction value of non-UK registered cards processed by Worldpay in the UK between 25/11/17 - 28/11/17 vs an average weekend (17/11/17 - 20/11/17). Ranking based on a minimum of 10,000 transactions processed.
6Predictions made based on 2017 Black Friday figures vs an average weekend (17/11/17 - 20/11/17).
Notes to editors:
About the data:
All figures quoted taken from an analysis of card transactions processed by Worldpay in the UK between 25/11/17 - 28/11/17 vs 24/11/16 - 27/11/16. Predictions made based on 2017 figures vs an average weekend (17/11/17 - 20/11/17).
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global omni-commerce. With an integrated technology platform, Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments, including global eCommerce, integrated payments and B2B. Visit us at www.worldpay.com.
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