Shoppers set to spend £1.8 million per minute securing deals. Online growth: Consumers across UK set to spend £1.15bn online, up 15 per cent on 2016. Gifts, clothing and home electronics top Black Friday shopping lists.
UK retailers are set for a record November as new research from VoucherCodes and the Centre for Retail Research (CRR) reveals UK consumers will spend a huge £2.6 billion on Black Friday this year, an 8 per cent increase on the £2.4 billion spent in 2016. Taking place on Friday 24th November 2017, the day will see retailers experiencing high volumes of footfall and online traffic, with 21 million customers expected to splurge £1.8 million per minute both in-store and online.
In-Store Vs. Online Spend
Despite being notorious for securing deals in-store, consumers are increasingly seeing Black Friday as an online savings event. This year, an estimated 11.6 million shoppers will spend £1.15 billion online, up 15 per cent on 2016 (£1 billion). In contrast, high street spend is set to be more in line with last year’s figures, as (4 per cent up on 2016).
More than two thirds (68 per cent) of those planning to shop online will do so to avoid the busy high street crowds, while 41 per cent are hoping to escape the long queues and 27 per cent will log on to easily compare prices and reviews online.
Black Friday Spend 2016 & 2017
In-store Spend20162017YoY per cent Difference20162017YoY per cent Difference£1bn
Bagging a bargain
A separate study by VoucherCodes and Opinium reveals that one quarter (25 per cent) of shoppers are feeling positive about Black Friday. Those looking forward to the savings day will purchase items they couldn’t otherwise afford (28 per cent), while 16 per cent intend to buy cut price Christmas gifts and one in five (21 per cent) want to treat themselves to something special.
Top items on shoppers’ Black Friday wish lists include gifts (23 per cent), followed by clothing, footwear and accessories (20 per cent), and home electronics such as TVs (16 per cent) as families across the UK prepare for Christmas parties and home festivities. Other popular items include DVDs, computer games and books (15 per cent), cosmetics and perfume (15 per cent) and personal gadgets including smartphones and tablets (14 per cent).
Top 10 Black Friday Purchases in per cent:
- Gifts for others – 23
- Clothing, footwear and accessories – 20
- Home electronics (TVs, speakers, etc.) – 16
- DVDs, computer games and books – 15
- Cosmetics and perfume – 15
- Personal Gadgets (smartphones, tablets, etc.) – 14
- Toys – 12
- Homeware (crockery, furniture, furnishings, etc.) – 11
- Alcohol – 7
- White goods (refrigerators, washing machines, etc.) – 6
VoucherCodes recorded a 78 per cent increase in site visits over the four-day savings weekend from Black Friday through to Cyber Monday last year. Over 8,500 offers were added to the site by a dedicated team of deal hunters, equating to an average of 234 new deals every hour – helping shoppers to save a massive £780,000.
Paul Lewis, Senior Director of Marketing at VoucherCodes said: “Black Friday is no longer just a day of bumper bargain deals, as an increasing number of shoppers are wising up to the phenomenal deals over the course of the weekend, from Black Friday through to Cyber Monday – with plenty of opportunity to secure a must-have item for less."