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The Drawbacks of Black Friday

How this American tradition is damaging UK businesses

Black Friday, something that was completely new to the UK only a couple of years ago, is now a fully fledged tradition among the early Christmas shoppers in Britain.

Consumer trends have created a raging war between retailers across the land. The reasons for this is that all of the shops seem to get through the year from February to November on next to nothing and then make all of their money in the hype before Christmas and the sales immediately afterwards. This makes it critical to the survival of a lot of retailers.

The difficulty with this seasonal trend is that it has been the catalyst to the Bank of England creating inflation during the slower months by pushing more currency into the market making every pound you currently have worth that little bit less. Such measures being used to force the hand of consumers into buying, which helps the retail industry during their down months.

Another unseen drawback is the cost to the UK economy of millions of pounds due to lost working hours over the sales on both Black Friday and Cyber Monday. This can be from staff using their work computers to use online retail sites as well as the aftermath of numerous packages being delivered to places of work which is again on company time. We have to suffer these implications unlike in the U.S. where it is a national holiday so there is nothing to lose out on.

Shoplifting and out of car thefts are also at their peak during this time of year. Especially on Black Friday beware of the smash and grab thefts as personal items and gifts are prime targets for opportunistic thieves. According to insurers, thefts from cars rise 28% this weekend over any other time of the year.

Let's just hope that we can be more civilised than the Americans...

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