Black Friday can offer both risks and rewards for consumers and retailers, suggests Professor Jonathan Reynolds, Deputy Dean of Oxford Saïd Business School.
On the one hand, canny, cash-strapped consumers have the potential opportunity to pick up a bargain before Christmas, Jonathan Reynolds says. But, the leading retail sector academic, insists, it is very much a case of, ‘buyer beware’.
On the other hand, Professor Reynolds insists, retailer discounting could drive much-needed sales on the back of a slight rise in consumer confidence – still in recovery from the cost-of-living crisis. But, he points out, by discounting now, retailers could be sacrificing full-price purchases nearer to Christmas – which would provide a much-needed fillip for the sector, which is also wrestling with the impact of the autumn budget in respect of national insurance costs and increases in the minimum wage.