Now that Black Friday has spread throughout the U.S. and into Canada, driving billions of dollars in sales each year, retailers overseas are jumping on the bandwagon.
“The United Kingdom is also getting in on the game,” said Sarah Quinlan, head of market insights for MasterCard Advisors, which produces monthly spending reports on five countries.
“It’s nowhere close to what we have on our continent, but we definitely see a surge of spending there.”
Originally a shopping phenomenon connected to American Thanksgiving, which always takes place on the fourth Thursday in November, Black Friday is being exported by international retailers and being adopted by foreign retailers who want to compete.
Visa Europe expects its cardholders will spend $8,424 (U.S.) every second during Black Friday this year.
In Britain — where Thanksgiving is not celebrated — the trend towards Black Friday sales began after the recession of 2008-2009, as retailers tried to encourage shoppers to crack open their wallets, said Quinlan.