Black Friday UK spending set to increase despite cost of living crisis

One in five UK consumers will increase their Black Friday spend from 2021 levels despite cost of living concerns, with one in ten using the occasion to complete most of their Christmas shopping, according to a study of 2,000 people by Emarsys.

This found that the average UK consumer is expected to spend £283 over the Black Friday weekend – a 25% increase from £226 in 2021.

There’s a recognition that Black Friday is an opportunity to make big savings even without a specific purchase in mind: 21% don’t know what they’ll buy, but still plan to take advantage of the sales in some form.

This may come as a surprise given the financial challenges facing UK consumers.

However, the research indicates that consumers are spending more discerningly to maximise their value for money. Seeking the biggest discounts (27%) and taking advantage of free returns (25%) are the most significant drivers for Black Friday spend.

This strategic approach extends to the channels that consumers will use to make purchases. While online purchases (53%) lead the way, 29% of consumers also plan to shop in-store.

And Covid has become a consideration of the past for many, as only 6% will avoid bricks and mortar stores due to such concerns.

According to Emarsys, this suggests that digital and physical retail are increasingly seen as two sides of the same coin, with consumers making the most of the deals by looking in both locations.

Some reticence to spend remains, however, with 21% of UK consumers planning to decrease their Black Friday spending.

The global cost of living crisis is the motivation for 52% of these conservative spenders, with cutting down on unneeded purchases (33%) and rising inflation (32%) the next most common reasons for reduced spending.

“The global pandemic, and associated lockdowns, didn’t just introduce millions of consumers to e-commerce, but also to strategic spending,” comments Sara Richter, CMO, Emarsys.

“Shoppers have been forced to navigate tough scenarios with limited funds; financial concerns this year have resulted in a higher level of planning ahead to secure the best deals during the Black Friday sales period.”

“This research sends a clear message to brands that they need to prepare for Black Friday earlier than ever this year and build a strategy that cuts through the noise, helping them beat the competition to drive customer growth and revenue.”

“Given the volume of competition this Christmas, personalised marketing tactics are essential. For the best possible Black Friday, brands will understand the behaviours, preferences, and concerns of consumers as individuals, showing an understanding of exactly what, and how, they want to buy.”

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