Black Friday 2021 spending set to exceed £6 billion
Overall spend during the Black Friday peak period (Friday, 12th November to Monday, 29th November) is set to hit £6.25 billion in 2021, according to Wunderman Thompson Commerce.
The e-commerce specialist surveyed over 6,000 consumers in the UK, US and China.
70% of Black Friday shoppers plan to increase their spend online vs 29% who said they would increase their spend in-store.
Amazon continues to be a winner with 35% of UK Black Friday spend taking place on the marketplace in 2020, a figure that is estimated to rise this year by a further 5% due to a longer peak discounting period and the introduction of “Black Friday worthy” early deals.
In fact, 71% of UK Black Friday shoppers bought from Amazon during the Black Friday period last year.
In comparison, eBay (31%), Argos (25%) and John Lewis (15%) all fell short of the US e-commerce giant’s convenience, deals and price points.
Meanwhile, with more shoppers on the hunt for inspiration, retailers and brands have an opportunity to tap into the Black Friday craze.
In fact, shoppers rely on influencers (18%) and social media (20%) to find good deals online, with 20% getting most of their Christmas shopping ideas from social media as well.
Hugh Fletcher, Global Head of Consultancy and Innovation at Wunderman Thompson Commerce, says: “Retailers mustn’t overlook the multitude of challenges in the UK, including supply chain disruption, a shortage of HGV drivers, Brexit complications and price inflation.”
“With the Christmas rush likely to become the Black Friday rush this year, retailers need to have their front- and back-end ready earlier – and pay close attention to consumer shopping behaviour.”
“Keeping up with this demand will ultimately come down to the maturity of digital services, as well as the ability to compliment in-store discounting through Click and Collect, next day delivery and social media activity.”
Looking back at the end of last year – when the UK had eased Covid-19 restrictions followed by a last minute Christmas lockdown – 72% of Black Friday shopping in the UK was online, a marginal increase on the 70% in 2019.
9% of UK Black Friday spending was done via social commerce, while a third of shoppers said that they were comfortable buying via social media channels in 2020.
These changes in the industry are more permanent than just a temporary post-Covid-related trend, Wunderman Thompson Commerce believes.
