This Black Friday weekend, UK consumers are expected to spend a whopping £9.14 billion as they gear up for their Christmas shopping. According to VoucherCodes.co.uk’s Shopping for Christmas 2024: The Black Friday sales report, this represents a 4.5% increase from last year’s £8.74 billion spending spree. With Black Friday falling later this year and retailers rolling out their deals earlier than ever, shoppers are eager to snag the best bargains and are bringing forward their spending.
While Cyber Monday is predicted to see the highest spending at £3.33 billion, sales are anticipated to dip slightly by -0.5% compared to last year. On the other hand, Black Friday (£3.18 billion) and the Saturday and Sunday (£2.63 billion) are expected to see significant increases in spending, with sales projected to jump by 5.6% and 10.2% respectively. Interestingly, offline Black Friday weekend sales are set to rise by 9.1% to £4.29 billion, as more shoppers opt to hunt for deals in-store. However, online shopping remains the most popular choice, with sales expected to reach £4.85 billion.
Retailers have been kicking off their Black Friday promotions as early as October in recent years, leading to a wider two-week Black Friday period where consumers are projected to spend £23.70 billion – an additional £1.03 billion or 4.5% increase from last year. Despite the surge in Black Friday sales, there is a growing trend towards Green Friday, with consumers leaning towards a more sustainable approach to their Christmas shopping. While only 9% of consumers are currently aware of Green Friday unprompted, one-third express interest in participating when informed.
Michael Brandy, Senior Commercial Director at VoucherCodes.co.uk, highlighted the positive outlook for retailers this Black Friday. He emphasized the importance of offering genuine savings and prioritizing discounts on popular items like clothing, footwear, toys, and electricals to attract savvy shoppers. With competition fierce and consumers seeking the best deals, brands will need to keep prices competitive to entice buyers during this festive shopping season.
