Black Friday weekend spending to hit £9.14 billion as shoppers snap up deals for Christmas
Shoppers are forecast to spend £9.14 billion this Black Friday weekend, 29 November – 2 December, as consumers take advantage of discounts and deals to save on their Christmas shopping.
Meanwhile, £23.7 billion is expected to be spent over the two-week Black Friday period, covering 22 November – 6 December.
That’s according to VoucherCodes’ Shopping for Christmas 2024: The Black Friday Sales Report, which says sales will soar 4.5% from the £8.74 billion spent last year as retailers launch deals increasingly early and shoppers bring their spending forward to grab the best bargains.
For the first time since 2022, offline Black Friday weekend sales are set to increase 9.1% year-on-year to £4.29 billion as shoppers head to stores to scout out bargains in person. However, the ease of online shopping means that remains the most popular way to spend this Black Friday – with sales hitting £4.85 billion
While shoppers are predicted to spend the most on Cyber Monday (2 December) at £3.33 billion, sales will fall by a marginal 0.5% year-on-year.
Black Friday itself will see sales of £3.18 billion, while the Saturday and Sunday will see a spend of £2.63 billion – all significant increases in spending compared to last year, with sales predicted to spike at 5.6% and 10.2%, respectively.
Michael Brandy, Senior Commercial Director at VoucherCodes.co.uk, said: “The big winners from Black Friday will be brands who offer genuine savings to their customers and prioritise discounts on in-demand items, such as clothing and footwear, toys and electricals.
“With shoppers increasingly savvy at finding the best deals, prices will have to be competitive to encourage consumers to part with their hard earned cash.”
Although Black Friday sales will be up this year, many consumers are moving towards Green Friday (the same day), favouring a more sustainable approach to their Christmas shopping. Currently, just 9% of consumers are aware of the event unprompted, but when informed, almost a third (32%) say they’d be keen to participate.
The research and predictions were prepared by GlobalData Retail, which provides clients with comprehensive data and insight on retailers, markets and consumers globally.
