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Black Friday and Cyber Monday had little impact

The impact of high-profile shopping events Black Friday and Cyber Monday appears to have belied the hype surrounding them, with the latest data from Visa indicating that the weekend contributed to only a 1.3% increase in spending last month compared with October. Indeed, the high street experienced 1.5% less shopping in November compared to last year. Over Black Friday and Cyber Monday, spending on Visa cards hit £2.2bn, which was 22% higher than last year. High street shopping in contrast was largely unchanged at £1.1bn. Away from discounted goods, consumers in November increased spending in restaurants, hotels and bars by 8.5% compared to last year, and 4.8% more in cinemas and theatres.

 

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