Four in ten Brits set to shop on Black Friday this year
However, PriceSpy warns consumers not to fall victim to fake discounts
- Over half (54%) of Londoners set to shop on Black Friday, 47% in the North East, 46% in the West Midlands
- 40% of Brits say they will shop online in order to avoid mass queues on Black Friday
- Over a quarter (26%) of Brits intending to buy something this year will be treating themselves with Black Friday bargains
- One-third of products on Black Friday 2016 were cheaper in the weeks leading up to Black Friday
Generational and gender differences
PriceSpy’s research reveals that the popularity of Black Friday in the UK is not slowing, however there is clearly more appetite amongst younger shoppers.
Around six in ten (62%) 16 – 24 and 25 – 34 (61%) year olds intend to shop on Black Friday this year, compared to just a third (33%) of those aged 45 – 54 years old, 20% of those aged 55 – 64 years old and a tenth (10%) of those aged 65 years old and over. However, motives between generations vary. 40% of those intending to buy something on Black Friday this year, aged between 16 – 24 years old, will be buying treats for themselves, compared to just 19% of those aged between 35 – 44 years old.
It’s also looking like more women (43%) will be shopping in the sales than men (36%). Of this, almost half (47%) of women will be buying presents for others, compared to just over a quarter (27%) of men.
Table illustrating that 21% of the top 5,000 products on PriceSpy increased in price between 1st Nov – 25th Nov (Black Friday) 2016:Stay alert
With Black Friday appetite not slowing, it’s vital for consumers to ensure that what they are buying on Black Friday is genuinely a good deal. It is unfortunately becoming common for some retailers to gradually raise the price of products in the months leading up to Black Friday, only to then ‘drop’ them on the day to make deals seem bigger than they actually are.
Olof Karp, country manager, UK & Ireland, at PriceSpy, comments: “As Black Friday continues to mature in the UK, it’s very interesting to see generational differences emerging. Almost three quarters (74%) of those aged 65 years old and over have never shopped on Black Friday and it is evident that it’s the younger consumers in the UK keeping the US tradition alive over here.
Black Friday has traditionally been a high street affair but, as ecommerce has continued to grow, retailers have had to adapt. 70% of Black Friday shopping in the UK is set to be online this year. Savvy shoppers will also understand that the best deals are more likely to be found online, with prices constantly changing throughout the day as retailers compete against one another.
With the wealth and variety of bargains to be had, shoppers must be vigilant to ensure they’re getting the best deal possible by looking at the price history of goods they’re after. Doing so will stop shoppers being fooled into buying goods at an inflated price.”