Bargain-hunting shoppers will be expecting retailers to cut prices by a greater margin this year as they tighten their belts amid a worsening cost-of-living crisis.
U.K. consumers are set to cut back by the greatest margin in the region, spending 18% less, while those in France and Germany both plan to reduce their spend by 15% and Spain by 13%.
That is piling the pressure on retailers, already struggling to recover from a Covid-19 slowdown and attract increasingly cost-conscious consumers. Meantime, many companies, seeking to correct shortcomings and supply issues from last year, have built up vast inventories of stock that they are now under pressure to shift.managing director of commercial solutions, Barclays Payments
That could see retailers extend their discounts across the month, increasing buying opportunities for consumers who have the money to spend.U.K. transactions rose 3.8% annually in the week leading up to Black Friday, according to new data from Barclays Payments, one of the country's leading payment processors.
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