At £3.38 million per minute, Black Friday spending in the UK is expected to hit a record

According to a new report from research firm VoucherCodes , this year will be the best Black Friday and Cyber ​​Monday sales opportunity ever for retailers, with daily sales expected to exceed those during 2019 and total sales to exceed the pre-pandemic record of £8.566 billion, an increase of 6.8%.

Sales will peak on Black Friday , the four-day weekend promotion , with consumers expected to spend £3.385 billion, equivalent to £3.38 million per minute , an increase of 21.7% from sales in 2020 (£2.782 billion).

In 2020, 60% of sales during the four-day weekend promotion occurred online, totaling £4.77 billion . During the epidemic, consumer shopping habits have also changed, and online sales are expected to still account for the largest market share during this year's promotion.

(Photo source: Foreign News)

The survey agency said, "The financial losses caused by the epidemic have led to consumers' shopping interest being stronger than ever this year, and Christmas lists will also start to be purchased while taking advantage of discounts, so sellers need to prepare in advance."

A survey by Clearpay also showed that more than a third of Britons said they were preparing for Christmas shopping in advance, especially young consumers. Nearly two-thirds hoped to buy better gifts this Christmas to make up for last year's shortcomings, and nearly half planned to buy gifts to "shine" this Christmas .

Amazon is still their first choice for shopping. During last year's Black Friday, 71% of British consumers bought products from Amazon , but in addition, social media is now also an important channel. Especially for shoppers under 35 years old, social media has become their main source of inspiration for shopping , accounting for about 63%.

In 2017, only 10% of consumers would purchase through social media, but now it has risen to 56%. Especially with the popularity of TikTok and the success of SHEIN, more and more sellers are beginning to pay attention to the influence of social channels.

Black Friday is just around the corner, and sellers must be prepared to seize the opportunity of explosive sales.

U.K.

Black Friday

E-commerce