G4S delivers on Black Friday
• G4S increased its ATM replenishments by 8.1% On Black Friday, 28 November, with Manchester and Liverpool leading the way
• During December G4S expects to process £5.2bn of deposits
• G4S forecasts a 20% rise in ATM replenishments in the week before Christmas
The amount of cash handled by G4S, the UK’s largest cash management company, at the nation’s cash points rose sharply on Black Friday last month as the US shopping phenomenon captured the imagination of British consumers seeking a bargain.
On November 28, G4S delivered an 8.1% increase in ATM replenishments and a 5% rise in cash-in-transit collections against similar pay day Fridays. This was the biggest ever Black Friday for cash management in the UK since retailers launched the promotion day in 2010.
G4S, the world’s largest security services firm, said the north west led the way in ATM replenishments, with Manchester up 24.5% and Liverpool 12% higher, as the Black Friday price discounting offered by retailers attracted hordes of shoppers.
Gerry Langdale, Field Operations Director at G4S Cash Solutions UK, said: “G4S experienced an exceptionally busy Black Friday and we anticipate another week of bumper cash management volumes before Christmas Day. The popularity of Black Friday has grown rapidly over recent years, which means that shoppers and businesses increasingly rely on Cash Management providers to keep the UK’s ATMs firing on all cylinders on this day.”
With just three shopping days left before Christmas, G4S again expects another surge in cash flow across the economy before December 25.
The security services specialist forecasts it will replenish 16,000 ATMs in the week before Christmas Day – about 2,600 more than any week during the year.
According to G4S, the flow of cash across the UK will be 20% higher in December than November and about 50% up on January and February, which are the lowest months of the year for cash movement.
In December 2013, G4S delivered £6.1bn of funds to banks and retailers, and processed £5.2bn of deposits, or money transported from these two sectors to their own depositing banks. The services company expects similar levels this month.
G4S will have 1,971 vehicles on the roads over December and 4,349 operational employees who are expected to work 903,000 hours in total.
Gerry Langdale said: “With many consumers leaving their festive shopping to the last minute, G4S looks forward to continuing to provide cash management across the UK at thousands of ATMs this week and beyond.”