Published on October 17th, 2018 | by The GC Team0
Black Friday spending predicted to reach £4.75 billion
The results of a study released today suggest that UK consumers will spend £4.75 billion on Black Friday this year, with £2.23 billion spent online.
The research, conducted with 2,000 UK consumers by digital agency Salmon, showed the average Black Friday spend will be £90, with the 25-34 age group amongst the biggest spenders (£154) and Londoners expected to shell out more than other UK regions (£141).
Men will spend 34% more than women on average, yet women are more likely to spend their money online (49% vs 46% for men).
The research also showed that 22% of people are planning to bring their Christmas shopping forward to Black Friday, and 16% of total Christmas budgets will be spent on the day.
James Webster, Head of Managed Services and Peak Trading expert at Salmon, referred to “an increasingly online and competitive retail world” and said brands, retailers and marketplaces have to be as smart and agile as the consumers they’re selling to.
“With record online sales last year and a continued shift to mobile, it’s important for eCommerce companies of all types to ensure they’re offering a sophisticated, yet easy, customer experience that spans all channels and platforms.
“It’s all well and good for retailers to start their Black Friday deals early, but if they don’t have the proper peak operations system in place to cope with the demand, they’ll likely be left in the wake of bigger fish like Amazon, who have historically focused heavily on the Black Friday period.”