With retail’s biggest shopping day just five weeks away, research shows UK consumers should spend £4.75 billion on Black Friday, with £2.23 billion (47% of the total spend) to be spent online.
The study from Salmon, a Wunderman Commerce company, which surveyed 2,000 consumers in the UK, shows consumers will spend on average £90 on Black Friday, with the 25-34 age range splashing more cash than anyone else (£154). Men will also spend 34% more than women on average, yet women are more likely to spend their money online (49% vs. 46% for men).
Londoners are expected to spend the most of any UK region on Black Friday (£141), whereas those in Norwich will be watching their pennies most, spending only £40.50 on the day.
As the November sales bonanza day becomes the main peak trading event of the year, nearly a quarter (22%) of consumers are even planning to bring their Christmas shopping forward to Black Friday. According to the research, consumers are set to spend 16% of their total Christmas spend on Black Friday; but young people will be the biggest bargain hunters ahead of the festive season, with this figure rising to 28% for 16-24-year olds.
“The Black Friday steam train looks set to pick up even more speed this year, with many consumers even looking to do their Christmas shopping during the November sales period. Black Friday is now a highlight in many consumers’ calendars – but in an increasingly online and competitive retail world, it’s not only the deal that gets consumers through the door – it’s the experience and service they receive throughout the entire sales process. Brands, retailers and marketplaces have to be as smart and agile as the consumers they’re selling to. With record online sales last year and a continued shift to mobile, it’s important for eCommerce companies of all types to ensure they’re offering a sophisticated, yet easy, customer experience that spans all channels and platforms. It’s all well and good for retailers to start their Black Friday deals early, but if they don’t have the proper peak operations system in place to cope with the demand, they’ll likely be left in the wake of bigger fish like Amazon, who have historically focused heavily on the Black Friday period.”
– James Webster, Head of Managed Services and Peak Trading expert, Salmon
The figures are backed up by separate research by Periscope By McKinsey, that suggests that Black Friday interest is ballooningacross Europe. It found that, in Europe, just 19% of UK respondents had participated in Black Friday back in 2015 – compared to an impressive 54% in 2017.
It was a similar story in Germany, with 9% of consumers getting involved in 2015 – jumping to 43% in 2017. In Canada, consumer participation has shown similarly impressive gains, growing from 26% in 2015 to 48.5% in 2017– and an anticipated 81% saying they plan to shop or browse in 2018.
Anticipation in the other surveyed regions is also high, with 77% of respondents saying that they too plan to shop or browse at this year’s event and consider making a purchase if the price is right.
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