Black Friday 2017 in the UK: Promo day splits retailers

Business bosses were split earlier over whether Black Friday is good for London’s retailers, pubs and restaurants.

The US-inspired promotional day was expected to see British punters splurge £10.1 billion during the sales bonanza.

But businesses, particularly High Street retailers with big overheads, have questioned whether mass discounting amid the festive shopping season is wise for margins and profits.

Seb James, chief executive of Dixons Carphone and a Black Friday enthusiast, told the Standard: “We plan it a year in advance with manufacturers to bring down the cost of production. Traditionally, Boxing Day was our biggest week — now we get two bites of the cherry. We are not giving away our margin on sales we were already going to do, like fashion retailers.”

Next, whose boss Lord Wolfson previously said Black Friday discounts are “pointless”, is unexpectedly taking part in the event, with prices of some items slashed by as much as 70%.

However, a string of retailers are not taking part including Marks & Spencer and Ikea. The founder of baby-clothing chain JoJo Maman Bébé, Laura Tenison said “good design and good service” were more important for boosting sales.

FTSE 250 brewer Greene King is offering “buy one get one free” deals on some meals and drinks.

Chief commercial officer Phil Thomas said: “Black Friday has emerged as a key trading event not just for the retail sector but increasingly for the hospitality sector, too.”

But rivals such as Young’s and Fuller’s said they were not participating. Fuller’s chief executive Simon Emeny said: “We don’t need to take part in cheap promotions to bring in customers.”

David Page, chairman of pizza chain Franco Manca’s owner Fulham Shore, said: “We don’t join in the crazy mayhem — we watch with puzzled faces.”

Early indications this morning were that some bargain-hunters have turned their backs on the annual Black Friday overnight spending ritual as the “discount season” lengthens into much of November.