Today is Black Friday - are you anticipating a sales boost?

​A relatively new trend, Black Friday is a concept that emerged in the United States and is generally regarded as the start of the Christmas shopping period. For many, including those who wrap up their Christmas shopping by November, it is just a great time to pick up a bargain.

For businesses this represents a potential boon, if they have accounted for the increased demand they are likely to see. Increased footfall and web traffic could put a strain on resources if not foreseen, so staffing numbers and shift rotas should have been prioritised towards coping on what has historically been the busiest shopping day of the year, both in stores and online.

Visa expects the number of online transactions to increase by more than a fifth compared to last year’s Black Friday, when British shoppers spent £1m every three minutes.

The fun doesn’t end with Black Friday though. Monday 1 December is its online equivalent, Cyber Monday. This is despite Black Friday seeing a lot of online transactions itself, something that underlines the potential windfall for businesses over this period.

Consumers are wise to be prudent though and not be sucked in by the bright lights and discounts – buy what you need and not (everything) that you want!

Finance and support aimed at facilitating and improving digital skills and online presence for sole traders and SMEs will shortly by rolled out by Buckinghamshire Business First. In the meantime, if you are interested in learning more, please visit www.greatbusiness.gov.uk/domoreonline or register your interest at info@bbf.uk.com.

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