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A record number of retailers are confident about the fast-approaching Christmas trading period and Black Friday, according to new figures from Barclays.
The bank’s Christmas Survey found that more than three quarters (77%) reported they are more confident about Christmas trading this year. An even higher proportion (79%) said they expect revenue to increase, with 14% predicting their revenues will rise by more than 10%.
The survey also examined the growing significance of Black Friday – which is forecasted to see a record £1bn online retail sales take place on the day, according to Experian.
Some 77% of UK retailers said they are planning to hold a Black Friday promotion this year – up from 73% – with 69% expecting sales to rise compared with last year and only 4% anticipating a fall.
When asked about the channels and methods of delivery they expect to be most popular this year, the majority of retailers revealed that they expect mobile to experience the biggest sales growth (56%).
On average, retailers expect mobile sales to grow by 52% compared with last year. Meanwhile, click-and-collect is expected to continue its rise in popularity, with an estimated 25% increase in orders.
Ian Gilmartin, head of retail and wholesale at Barclays, said: “It’s our third year compiling the Barclays Christmas Survey and the results are more positive than ever. The overwhelming confidence around prospects for the whole Christmas season is great to see.
“When Black Friday first came to the UK, the industry speculated about whether it was just a fad or would really take hold. This research shows that it appears to be here to stay, as for the first time, more than three quarters of retailers plan to hold a promotion.”
He added that as long as retailers focus on selected lines and manage the level of discounting appropriately, increased participation in Black Friday can contribute to a “”successful” Christmas season.
The survey also reported good news for Christmas Day itself, with three quarters of retailers expecting to see an increase in traffic on their website on 25 December, with more than half of those surveyed expecting Christmas Day traffic to peak after 8pm.
