Research from Barclays has revealed confidence is high in the retail sector as the Christmas period approaches.

More than three quarters of retailers reported that they are more confident about Christmas trading this year (77 per cent), and 79 per cent expect revenue to increase, with 14 per cent predicting their revenue will rise by more than 10 per cent.

The Barclays Christmas Survey also examined the growing significance of Black Friday, the initiative imported from the USA, which sees significant discounts from many retailers on the fourth Friday in November.

Black Friday has rapidly established itself as an annual fixture on the UK retail calendar and the survey reveals the extent to which it has made its mark in the UK. Some 77 per cent of UK retailers plan to hold a Black Friday promotion this year, up from 73 per cent last year, with 69 per cent expecting sales to rise compared to Black Friday 2014, and only four per cent of those surveyed anticipating a fall.

When asked about the channels and methods of delivery they expect to be most popular this year, the majority of retailers revealed that they expect mobile to experience the biggest sales growth (56 per cent).

On average, retailers expect mobile sales to grow by 52 per cent compared to last year. With regards to delivery channels, click and collect is expected to continue its rise in popularity, with an estimated 25 per cent increase in orders.

John Union, head of corporate banking, Barclays Wales Region, said: “It’s our third year compiling the Barclays Christmas Survey and the results are more positive than ever. The overwhelming confidence around prospects for the whole Christmas season is great to see."