UK consumers are predicted to spend £2.6 billion on shopping this Black Friday, up 8% from the £2.4 billion spent in 2016. That’s according to new research from VoucherCodes and the Centre for Retail Research (CRR).
A whopping 21 million consumers are expected to be spending £1.8 million per minute online and in-store.
Black Friday has officially been branded an online savings event for many UK shoppers even though many offers will also be available in-store.
Indeed, eCommerce is estimated to make up £1.15 billion of Black Friday sales, an increase of 15% from last year.
By comparison, high street spending will be more similar to last year – at a more modest 4% increase.
Around 68% of online shoppers are doing so this year to avoid the busy high street crowds, whilst 41% are avoiding queues and 27% wish to compare prices more easily.
Another study by VoucherCodes and Opinium also found that a quarter of shoppers were feeling positive about the sales event, with 28% of shoppers looking to buy items they couldn’t afford otherwise and 16% looking to buy Christmas presents. 21% are going to treat themselves.
Among the top items on shoppers wish lists are gifts (23%), clothing and accessories (20%).
VoucherCodes adds that in 2016 there was a 78% jump in website visits over the savings weekend between Black Friday and Cyber Monday.
Paul Lewis, senior director of Marketing at VoucherCodes explains:
“Black Friday is no longer just a day of bumper bargain deals, as an increasing number of shoppers are wising up to the phenomenal deals over the course of the weekend, from Black Friday through to Cyber Monday – with plenty of opportunity to secure a must-have item for less. We’ve worked closely with our 5,000 partners to make sure they’re maximising the opportunities presented by the shopping weekend with hundreds of thousands of offers due to go live from a range of well-known retailers on our site and app.”