Is the future bleak for Black Friday as more of Britain's shoppers and retailers reject an adopted US tradition?

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Black Friday has become a phenomenon for all the wrong reasons. The event has triggered some of the ugliest scenes ever experienced in UK shops, and experts are questioning whether it’s more trouble than it is worth.

Some are going as far as to predict it will eventually disappear as fast as it arrived, with a raft of reports questioning how long it can continue.

‘One-third of retailers believe Black Friday is unprofitable and unsustainable,’ according to a report published by business consultancy LCP.

While Black Friday will see nearly £1.9billion of sales rung up over the next few days the event is beginning to lose momentum.

> Tempted to join in? Read our round up of the best Black Friday deals 

Only 38 per cent of Britons plan to hit the shops today, down from 44 per cent last year, research from electronic payment group PPRO shows.

It also questions whether we are suffering from sales fatigue.

And if retailers were hoping the event would generate some kind of brand loyalty they were wrong.

Around 70 per cent of consumers do not return to where they picked up their Black Friday bargains for the remainder of the festive period, says payment firm Worldpay.

Its report shows one in five shoppers think less of brands who take part in Black Friday.

James Frost, UK chief marketing officer at Worldpay, warned: ‘The bargain frenzy may be built on a “false economy”, which could see some retailers start to rein in their sales promotions.

‘It has been hugely successful in as much as it helps retailers offload old stock and clear the shelves and warehouses in time to replenish for Christmas with newer, higher-priced items.

‘However, it... may even be undermining Christmas sales and customer loyalty.’

The one-off day of bargains was transplanted from America where it is a major event, occurring on the day after Thanksgiving.

Two years ago US retail giant Walmart introduced it to Britain through its Asda stores.

Major electrical items such as televisions, computers and fridges were sold at a huge discount to attract customers into shops.

The idea was for Asda to set itself apart from rivals with something different from across the pond.

But by last year all the main retailers had caught up, piling in with their own day of discounts, concerned they might miss out.

Many ordered large quantities of popular items, which they bought on the cheap from suppliers, selling them at bargain prices.

But Christmas is one of the few times of the year that shoppers need to buy presents, with many prepared to pay full price. There is no need to offer incentives.

The result is shops unnecessarily squeeze their profit margins – the difference between the cost of buying items and the price they are sold – in a day of mayhem as shoppers scramble to fill their baskets.

Online retailer Klaus Hellmich, quoted in the LCP report, warned: ‘Unfortunately, you are selling that day at a price level which is not covering your costs and that is a problem. Those ... shoppers are only coming once a year for the cheapest price.’

Some people are therefore asking ‘So, what’s the point?’ The one-day frenzy also causes a massive strain on retailers who have to draft in more staff and make sure computer systems do not collapse from the increase in transactions.

Argos, which is owned by Home Retail Group, has already suffered the embarrassment of its website going down.

Last Sunday it collapsed just as the firm launched a week of deals.

Black Friday also causes increased costs and cannibalises future sales because it makes the event financially neutral for most retailers.

Ironically, having imported the quintessentially American ‘phenomenon’ into the UK, Asda, owned by US retail giant Walmart, has decided it has had enough and is turning its back on it.

Ugly scenes: Shoppers scramble for budget televisions at an Asda supermarket on Black Friday last year

The German discounters Aldi and Oddbins are making a virtue of not partaking. This is the turning point. Others will follow their lead next year, which will result in the deeply flawed event eventually disappearing.

Stephen Springham, head of retail research, at property firm Knight Frank, says: ‘The irony is that the real winners from Black Friday are probably those that opt not to take part at all.

‘Next remains one of the best-run retailers in the UK and its non-participation speaks volumes. When Christmas has been and gone and analysis switches to sorting out the winners from the losers, Next will sit firmly in the former camp.’

The problem is that most retailers, who were late to join in last year, had already committed to the stock for today’s event.

They have been caught off-guard by the change in tack from the leaders on the High Street.

Next year Black Friday will be very different.