Cost-of-living crisis casts shadow over Britain’s Black Friday

LONDON – Britain’s retailers are hoping Black Friday discount day will get shoppers spending, though it takes place against a backdrop of a worsening cost-of-living crisis and the distraction of the soccer World Cup.

Britons will spend 8.7 billion pounds ($10.5 billion) over the Black Friday weekend (Nov. 25 to Nov. 28), according to research by GlobalData for VoucherCodes – a rise of 0.8 percent year-on-year which masks a big drop in volumes once inflation is accounted for.

Consumers have been cutting back on their spending as soaring inflation – which hit a 41-year high of 11.1 percent in October – eats into disposable incomes. And they have begun their Christmas shopping ear…

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