Published on November 4th, 2016 | by The GC Team0
A quarter of UK consumers will buy on Black Friday or Cyber Monday
More than a quarter of UK adults intend to make a purchase on Black Friday (25th Nov) or Cyber Monday (28th Nov) this year and expect to spend an average figure of £203 each, according to a survey conducted for PwC.
57% planning a purchase are reportedly holding off spending now in anticipation of getting a better deal during the November event – amongst men that figure rises to 65%.
However, not everyone is a fan of these US shopping imports. PwC’s online survey found that over a third of UK adults have no interest in either Black Friday or Cyber Monday, and one in seven purposely avoid them.
Madeleine Thomson, Retail & Consumer lead at PwC, said: “Our research shows Black Friday and Cyber Monday are definitely here to stay, with sales over the weekend due to grow by a predicted 38% to £2.9 billion.
“Nearly a third of respondents expected goods to be cheaper than across pre-Christmas sales. The average expected spend is £203, nearly double that of 2015, and higher amongst men and younger consumers, with the majority of people expecting to spend the most on electrical and technology (55%).”
In August this year, global ecommerce consultancy Salmon predicted that over £5 billion will be spent during an extended sales period labelled ‘Black Fiveday’ (24th – 28th Nov) – over half of which (£2.55 billion) will be through mobile devices.
Commenting on the PwC study, Patrick Munden, Head of Marketing & Communications at Salmon, said: Black Friday, or ‘Black Fiveday’ as Salmon is predicting, cannot be an afterthought this year for vendors that want to reap the financial and reputational success.
“As consumers continue to shift away from the high street and towards technology-driven devices, we expect mobile payments to play a bigger role than ever in consumer purchasing over the Black Friday weekend. As retailers look to prepare for the event, they must ensure the appropriate back-end systems and operational plans are in place beforehand. Doing so will not only drive shoppers to their products, and away from competitors services, but will allow retailers to win and retain a stronger consumer base.”