Black Friday is set to be a busy time for retailers this year, with 54% of Londoners, 47% of shoppers in the North East and 46% of those in the West Midlands looking to make purchases. According to research from PriceSpy, a price and product comparison website, eCommerce seems to be a key trend this year with 40% of respondents in the UK looking to shop online to avoid the crowds.
Around a quarter (26%) of shoppers are planning to buy themselves a treat this year, whilst 16% are planning to buy more than one item.
The research also revealed that a third of products had already been priced down weeks before the sales event.
Olof Karp, country manager, UK & Ireland, at PriceSpy, explained that there were interesting generational differences with 74% of those aged over 65 years never having shopped on Black Friday, whilst younger consumers were driving the US tradition in the UK.
Six in ten 16 to 34 year-olds plan to shop on Black Friday this year, compared to a third of 45 to 54-year-olds and 20% aged 55 to 64 years.
Motivations for shopping during the event vary widely with younger generations wanting to treat themselves compared to older shoppers.
Similar to last year, there are more women (43%) planning to shop than men (36%), with half of women buying presents during the event compared to just 27% of men doing the same.
“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.”
However, he advises that customers stay alert in order to ensure they are getting a true bargain.