The latest transplants from the US to our green and pleasant land are the annual Black Friday sales. In recent years Black Friday (and its associated antics) has made headlines. But how much is actually being spent at this yearly trolley dash? We take a look at what is actually going on with our spending behaviours as the shopping season is officially declared open.
What Is Black Friday?
Thanksgiving falls on the fourth Thursday of November, the day after is Black Friday. In the US, Black Friday is an unofficial holiday, with many taking the day off work. With that in mind, businesses and retailers lower their prices for a day sale to coincide with potential shoppers being available to shop. Black Friday represents the start of crazy Christmas shopping.
How Much Do We Spend?
On average in the UK, Black Friday and Cyber Monday result in around seven billion pounds in spending. Per person that’s about £220 each. The number of people who plan to be involved with Black Friday and Cyber Monday sales is increasing. In 2017, only 36% of shoppers intended to scoop those deals. This year a staggering 62% plan to get amongst the bargains.
However, that does mean that spend per person has gone down, but the average overall spend has gone up. Does this mean that shoppers are becoming more savvy, even amidst the feeding time at the zoo scenes that make the headlines every year? Possibly. With buyer’s remorse a recognised consequence of Black Friday, more people are researching their purchases beforehand.
Generation X spend the most at £264 per person. This age group is more likely to buy online too. Cyber Monday means that more bargain hunters can shop from the warmth and comfort of their homes. Businesses like http://allaboutfreight.co.uk/same-day-courier-service/same-day-courier-manchester benefit from the online shopping deals. For a same day courier Manchester becomes a busy place as shoppers buy online and want their purchases as soon as possible.
The Black Friday trend looks like it’s here to stay. It has even grown as businesses expand their sale across the week, with Black Friday deals continuing for days. With spending on Black Friday increasing year on year, retail businesses show no sign of abating their seasonal sale drives.