Retailers are expecting British spending to bounce back from Brexit concerns and increase anywhere from 3.5 to 4 percent, according to a report published by Fung Global Retail and Technology.
Early reports from the National Retail Federation indicate a disappointing Black Friday weekend for U.S. retailers. Previous forecasts expected Black Friday sales to achieve record numbers, but according to the Thanksgiving Weekend Spending Survey conducted by Prosper Insights & Analysis, weekend sales actually dropped by more than 5 percent.
The holiday shopping season officially kicks off at the end of the month, and U.S. retailers are expecting Black Friday sales to eclipse $36.7 billion, according to a recent report by IBIS World Reports. If the forecast holds true, it will be the highest Black Friday sales in history and a near 2 percent increase over last year.