Almost half of UK shoppers set to take advantage of Black Friday deals.
VERDICT PRESS RELEASE
Wednesday 26 November, 2014
Almost half of UK shoppers set to take advantage of Black Friday deals
Retailers’ heavy investment in Black Friday promotions looks set to pay off, as almost half of UK shoppers say they will participate in the event, according to new *research from Verdict as awareness of the US retail occasion reaches an all-time high in the UK.
Women most likely to spend
47% of shoppers say they intend to buy such a promotion this Friday, and women will lead the charge, with 61% of female consumers expecting to make a purchase. With many on the hunt for early Christmas presents for friends and family, we expect Black Friday to boost not only electricals retailers but also clothing & footwear players, with those already shouting about their offers such as Argos and Shop Direct set to benefit the most.
Black Friday better appeals to younger shoppers: 56% of 15–24 year olds are planning to spend, with this figure rising to 59% for 25–34 year olds. In contrast, mature shoppers over 65 are notably less interested in the retail event, with just 28% of shoppers likely to make a purchase.
Black Friday is here to stay
Verdict expects Black Friday to become a permanent fixture in the UK retail calendar as consumer expectation and demand continues to grow. “With many shoppers still not prepared to pay full price, resulting in high levels of shopping around, providing unbeatable discounts and unique offers will prove crucial on Black Friday 2014 to seize consumer spend,” said Verdict analyst Kate Ormrod. “Given the challenges faced by many in the UK retail sector this year, Black Friday will also prove useful for many clothing & footwear players left with high levels of winter stock such as knitwear, outwear and accessories, following the unseasonably warm autumn.”
UK plans to shop early for Christmas
Verdict’s latest research also finds that 25% of UK shoppers are planning to make their Christmas purchases earlier this year compared to 2013. “While many consumers have previously held out for deeper discounts in the run up to Christmas, this year they are more confident than ever that discounts will come through earlier, such as those on Black Friday, resulting in spend being brought forward,” added Ormrod.
Christmas spending will be strong, but not spectacular
An extra £2.3bn will be spent this Christmas compared to 2013 – a rise of 2.6%, reaching £90.7bn (£53.6bn on non-food and £37.1bn on food & grocery) owing to an improving housing market and rising consumer confidence. Online retailing will play a key role in Christmas shopping this year, making up £13.0bn of spend, with click & collect accounting for £1.6bn of online sales.
*based on Verdict’s online consumer survey of 10,000 UK shoppers in October 2014
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