Consumers to splash out £2.5bn in online purchases on Black Friday
- Research from Wunderman Thompson Commerce suggests UK consumers will spend nearly £5 billion this Black Friday, with almost half expected to be spent online
- Consumers set to spend £90 on average on the day itself
- Nearly a quarter (22%) of consumers will bring forward their Christmas shopping this year because of Black Friday
London, UK. Wednesday 17th October 2018: With retail's biggest shopping day just over five weeks away, research from Wunderman Thompson Commerce 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 research, which surveyed 2,000 consumers in the UK, showed 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," said James Webster, Head of Managed Services, and Peak Trading expert, at Wunderman Thompson Commerce. "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."
As consumers look set to spend big online this Black Friday, retailers need to be prepared.