Small businesses reap 40% spending increase on Black Friday
Bristol retailers "regional winner" with 79% increase in average spend compared to 62% rise in consumer spending in London
Small business retailers across the UK enjoyed average sales growth of 40% from £650,000 to £910,000 on Black Friday, according to new data released by point-of-sale provider Vend.
The survey of 1,300 small businesses found that the increased consumer spending on Black Friday was higher than in 2014 (37%), with a 13% increase in sales volume and an average transaction value of £22.
Fashion and apparel outlets fared best on the day with average spend increasing by 92%, followed by electronics and computer stores (66%), sports and outdoor (55%), health and beauty (54%) and home lifestyle (47%).
Bristol saw the biggest rise in retail spend of any major city at 79% higher than an average Friday in November. This was followed by London (62%), Birmingham (60%), Leeds (48%) and Manchester (47%).
However, Vend warned that businesses shouldn’t celebrate just yet – the impulse buying associated with Black Friday can create high levels of returns and refunds with 2014 data showing that refunds increased by 64% on December 9.