NEWS25 November 2016

Black Friday spending tipped to be 38% higher than 2015

News Retail Trends UK

UK — A PricewaterhouseCoopers (PwC) study has estimated that total spending on Black Friday and Cyber Monday in the UK will reach £2.85bn, a 38% rise on 2015.  

Shop street crop

According to reports, the consultancy's research found that 27% of British adults intend to make a purchase over the weekend, and on average expect to spend £203. 

Over three quarters ( 77%) of respondents were planning online purchases, compared with just 17% intending to make purchases in store. 

Research from ad tech company Captify revealed that there was an 11% jump last month in people searching for Black Friday pricing for products in the UK. 

“We are seeing two key trends emerge this year, firstly, more and more retailers, both online and offline, have offered discounts well ahead of Black Friday," said Dom Joseph, CEO of Captify.

"Amazon launched its ‘35 days of Black Friday’ , while UK companies, such as Argos and Tesco, have also offered deals ahead of the day, in order to capture as many consumers as possible. Retailers know the heightened expectations that consumers have for Black Friday, which is why we’ve seen such growth in discounts before the event itself.”

“Secondly, people are now monitoring the prices of products they want to buy, months in advance of Black Friday, and researching information as early as August."