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UK shoppers set to spend more on Black Friday this year

Nov 22
 
Tags: PwC
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UK shoppers set to spend more on Black Friday this...

Black Friday (November 29th) will attract higher levels of spending from UK shoppers this year, according to an online survey by PwC that sought the views of more than 10,000 people around the world.

The findings showed that the event is likely to attract more consumer spending in 2019, despite the fact it splits opinion in the UK.

Interest and cynicism

PwC's research created a fairly complex picture of how shoppers across the UK feel about Black Friday.

More than half (52 per cent) of consumers said they are either interested or plan to buy something during the sales event. UK consumers are set to spend an average of £224 - 11 per cent more than last year.

Citizens of other countries appear much more enthusiastic about Black Friday than their British counterparts.

More than eight out of ten respondents in South Africa (88 per cent), Ireland (84 per cent) and France (81 per cent) were interested in the event or planning to purchase something.

Among people in the UK who are likely to spend less this year, almost a third said the deals on offer aren't exciting. One in five (20 per cent) went as far as to say the promotions aren't even genuine.

The under-25 age group is one of the least interested in Black Friday, with plans to spend £111 on average, 11 per cent down on last year.

Geographical trends showed that Londoners (£326) are planning to spend twice as much as Scottish consumers (£155).

'An interesting conundrum'

Discussing the findings, Lisa Hooker, consumer markets leader at PwC, pointed out that Black Friday has undeniably become a firm fixture in the retail calendar, but it is also proving increasingly divisive.

Those who have become sceptical towards the event are likely to have been further put off by its growth with each passing year, creating a phenomenon Ms Hooker dubbed "Blackvember".

"This situation creates an interesting conundrum for retailers, who still need to serve the 52 per cent of consumers who are looking forward to Black Friday for deals, or as an integral way of saving money for Christmas, without alienating those not interested," she added.

"Retailers clearly can't ignore the event and do not want to risk losing out to rivals, but they need to manage it smartly and inject newness (and reasons to shop at full price) during the peak Christmas trading weeks."

Ms Hooker also pointed out that Black Friday has become a "non-negotiable" for certain retailers, such as those specialising in electricals and technology.

Other findings from the PwC research suggested there is a slight gender divide around Black Friday in the UK, with men (£254) planning to spend a third more on average than women (£191).

Tech and electrical products are the most popular purchases in the UK, Ireland, Germany and South Africa, but in France and the Netherlands, shoppers are more interested in finding fashion deals on Black Friday.

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