New data from investment data platform Stocklytics.com shows that across the world’s largest 30 retailers, the Black Friday weekend was worth an average of 1.41% to these businesses.
If they deliver similar results this year, that’ll add £59bn to their value in just a few days.
Tesco could be expected to add £335 million in value in just the five days around the Black Friday period, enough to pay for about 12,166 delivery drivers for a whole year.
Neil Roarty, analyst at Stocklytics.com said, “This data shows how crucial Black Friday has become for companies across the globe as it is a huge money spinner for them, not just in terms of revenue, but also for investors and their returns.
“However, consumers need to be wary that if something seems too good to be true, it probably is. The rise of ‘fake sales’ is not new, and retailers have always inflated prices ahead of busy seasons to make deals sound better than they actually are.
“People should shop around carefully and shop to a plan. Don’t be taken in by the huge discounts and only shop for what you were going to buy anyway.
“Don’t be taken in and think this is your last moment to buy something you’ve had your eye on. Be patient and remember a lot of what you may say is just marketing – there will be other chances for you to get a great deal.”
