Black Friday costs retailers £180m
While many might think that Black Friday is a gold rush for retailers in the UK, there are drawbacks. First off, you've got the bad press that comes with people punching each other over tellies in your aisles - and then you've got people returning goods they've bought on the day.
A report says that UK retailers could be hit with costs of £180m, after consumers snag products on Black Friday, but end up returning their goods. Either way, predictions say that this could be the first year where internet sales pass £1bn thanks to Black Friday 2015.
Thanks to those a bit too keen to fill their baskets, retailers could lose money on returns, if you take lost margins, oversupply of stock, cleaning and storage costs, and the lost value of future custom into account.
"What retailers must remember is a sale is only a sale when a customer decides to keep an item – and the promise of a Black Friday discount alone might not be enough to close the expectation gap and secure a ‘keep’," said Vicky Brock, founder and chief executive of Clear Returns. "While on the surface, Black Friday is deemed to be a successful key trading day, but it’s a gloomier picture once returns are factored in."
Clear Returns say that, by December, £600m worth of stock bought between Black Friday and early December is going to tied-up in the returns system, which means the shops won't be able to get the products back on the shelves in time for the Christmas rush. This will result in 'Out Of Stock Saturday' on December 12th, apparently.
Obviously, shoppers should keep their wits about them during the Black Friday hysteria, and not be swayed into purchases that feel like 'now or never', when in fact, they're not very good.
Keep your head screwed on, keep checking Bitterwallet for the good bargains, and only go for stuff you really want, or that is genuinely a good price. There's also a dedicated Black Friday section with our pals at HUKD which you should definitely keep an eye on.