Following last year’s rather lacklustre Black Friday – dubbed ‘Beige Friday’ after sales actually fell by -1.9% – the event is set to regain its sparkle this year.
We Brits, declares home delivery expert Parcelhero, have been tightening our belts for so long that we've run out of notches! Expect them to loosen up for a dazzling £7.5bn Black Friday weekend bonanza.
Parcelhero is forecasting a sparkling return to form for Black Friday sales following last year’s colourless results.
It dubbed Black Friday 2023 ‘Beige Friday’ after a -1.9% slump in sales. This year, Parcelhero predicts UK sales will reach £7.5bn over the Black Friday/Cyber Monday long weekend.
ParcelHero’s Head of Consumer Research, David Jinks M.I.L.T., says: "Black Friday was in danger of becoming a bloated, overlong anticlimax. The consumer organisation Which? reported that only 2% of products in the 2022 Black Friday sales were genuinely cheaper than at other times of the year. According to Which?, 98% of sale items were the same price or less and 45% were cheaper at other times of the year."
He went on to say: "It seems retailers learned their lesson, though. Moneysaving Expert reports 70% of the sale items it monitored were cheaper on Black Friday last year than at any other time, with an average discount of 29%.
‘If these genuine deals continue, we’re predicting consumers will flock back to Black Friday to get the most from the hefty discounts. In fact, major retailers like Boots, Amazon, Argos and John Lewis have been running early bird special offers throughout November and these are reportedly getting a strong response.
"It’s true sales stuttered somewhat last month: volumes fell by -0.7% and the amount we spent also tumbled by -0.6%. However, all the signs are November is already enjoying a big uptick. Brits have been tightening their belts for so long that they have run out of notches. They clearly feel it’s time to loosen up to make the most of some genuine discounts.
"It’s likely many Brits were wary of splashing the cash before the Budget, which finally arrived right at the end of October. While it can hardly be said to have lifted the economic gloom, at least shoppers now know the worst and are budgeting accordingly.
"Last year, clothing sales in particular tumbled in the Black Friday sale. However, it’s likely fashion will fare much better this time as people splurge on party season outfits and winterwear. Nonetheless, it will be electrical and tech items that will once again dominate sales. These will be a mix of gifts for others and a bit of self-indulgence.
"While the e-commerce association IMRG confirms sales tumbled by -1.9% last year (a fall which was forecast by Parcelhero), the industry analyst PWC predicts a £7.1bn Black Friday spend this year. This is very close to our own £7.5bn figure. In fact, some forecasts look even rosier. One respected research company, Statista, is predicting a whopping £9bn UK spend this time round. It sounds optimistic but such a result would certainly restore Black Friday’s sparkle.
"As ever, Amazon is likely to be the big winner. Parcelhero believes Brits will spend a whopping 41% more online than on the High Street this Black Friday weekend, with Amazon set to earn the lion’s share.
"While many shoppers are expected to jump back aboard Black Friday to buy the bulk of this year’s Christmas presents, there are always those who leave everything until much later. Parcelhero’s continually updated Christmas deadlines tool is invaluable for keeping shoppers in the know with their favourite retailers’ final online order dates.
‘To check the easy-to-use retailers’ final order and final mailing dates tool, see: https://www.parcelhero.com/events/christmas-gifts-delivery"
