Barclaycard Payments, which processes nearly £1 in every £3 spent in the UK, has so far today (as at 16:00) seen a -16.7% decrease in the volume of payments compared to the same period on Black Friday last year.
Rob Cameron, CEO of Barclaycard Payments, said: “We’re now able to look at a full day’s worth of Black Friday sales, and as expected the number of transactions is down compared to last year. It’s important to note that transactions are still up considerably compared to the rest of lockdown, but the real focus now will be on Wednesday 2nd December – the end of the national lockdown in England – when we predict that shoppers heading back to the high street will bring about a ‘Black Wednesday’, with transactions likely surpassing what we’ve seen today.
“In what has been a difficult year for UK Retail, I would like to congratulate businesses for the resilience and determination they have shown. Thanks to the lessons learned in the first lockdown, we have never had more businesses set up to take payments online, offsetting much of the drop in in-store sales over the past month. In fact, if businesses hadn’t taken those lessons on board and embraced e-commerce to the same degree, we believe that the overall drop in transactions could have been up to twice as large.”