It’s still early, but based on Black Friday results, it looks like Holiday 2020 could be a better-than-expected season for apparel retailers.
Granted, this year expectations have been set very low. But still, with consumers forgoing holiday parties, dining out, vacation travel and other seasonal activities there’s more budget for other purchases. That’s brightened the outlook for clothing sales.
Preliminary data shows that global consumer spending was up year-on-year this Black Friday.
Globally, Black Friday sales have been strong, driven by e-commerce. Shopify reported sales hit $2.4 billion, up 75% year-on-year. But Barclaycard said UK sales (combined online and offline) were down 10% from last year.
The UK reported that consumers spent £2 million a minute on Black Friday, with Amazon
