Black Friday: UK shoppers expected to outspend US consumers in 2018

The US tradition of Black Friday shopping has taken the UK by storm. Photo: Reuters
More

Black Friday is one of the busiest shopping days of the year.

While it is a US tradition, falling on 23 November this year, the appetite in the UK for buying heavily discounted goods ahead of Christmas has consistently grown.

In fact, this year, British shoppers are expected to overtake US consumers on the day, according to a report by financial services provider Wirecard.

It found that UK shoppers are each expected to spend on average £76 (GBP60) on Black Friday, compared to the US average spend of £73 (GBP57). For Brits, this is more than what they are willing to spend on other major shopping days, such as Boxing Day (26 December).

The group surveyed over 3,000 consumers about their shopping habits and preferences this year to build its Wirecard International Holiday Shopping Report 2018.

It found the growing abundance of online retailers participating in Black Friday — slashing prices for a limited amount of time — has helped boost uptake due to ease of access, rapid availability and price comparisons in real-time.

Naturally, consumers said that they will be opting to shop from the comfort of their own homes, rather than traipse round the shops.

Globally, 68% of respondents said they will make their purchases digitally, via a desktop site, mobile app, or mobile site.

A higher proportion of UK consumers will use the desktop for their shopping (37%) versus US bargain hunters (23%).

However, although average spend will be higher, there are growing concerns for brick-and-mortar stores as footfall drops an expected 3.7%[1].

References

  1. ^ footfall drops an expected 3.7% (www.theguardian.com)

You may also like...