Weekly Retail & Leisure News - 28 November, 2016
consumers are expected to spend £5.76bn over Black Friday, Cyber Monday and the
weekend in between, an increase of 15% compared to 2015, with similar levels of
business expected on each day. However, with a lower than predicted rise in
online purchasing, data from this year’s Black Friday paints a surprising
picture, with an uplift in footfall of 2% against Black Friday 2015, compared
with a forecast fall of 5%. High street footfall increased 2.8% while retail
park and shopping centre footfall increased 0.8% and 1.4% respectively,
according to the Springboard footfall index. Online purchasing failed to meet
expectations and was up only 6.7% against Black Friday last year, compared with
a forecast of 25% and a rise of 31% in 2015, as shoppers moved away from online
offers. This data suggests that Black Friday is still very much evolving as a
shopping day in the UK, and also underlines the importance of retailers
embracing omni-channel strategies.
In other news, commenting on the Chancellor’s announcement on business rates in
last week’s Autumn Statement, Tim Beattie, Head of Rating, JLL UK, said:
“Across the UK and particularly in London, businesses will be very angry at the
news that the government has ignored their demands to dramatically improve the
transitional arrangements outlined in the government’s recent consultation
paper by only reducing the year 1 cap from a whopping 45% to an equally eye
watering 43%, when the equivalent figure for the three previous revaluations
was a far more manageable at 12.5%. Business will however welcome the news that
there will be a new 100% business rates relief for new full-fibre
infrastructure for a 5 year period from 1 April 2017, which will help to
support the digital roll out to more homes and businesses.”
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Director, Head of Retail Research (UK & EMEA)
+44 (0)20 3147 1155
Director, Head of UK Retail & Leisure
+44 (0)20 7318 7838
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