Half of customers will take advantage of Black Friday, research finds

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28th November 2014 10:44 - Retail

Recent research by Verdict has found that Black Friday price slashes will be taken advantage of by nearly 50 per cent of consumers.

The study found that knowledge of the event, which has its origins in the USA, is now at its highest rate in the UK.

Of those surveyed, females were most interested in Black Friday promotions, with 3 in 5 of female shoppers anticipating making a purchase.

Verdict particularly expects sales to increase across a range of stores, including those focusing on electrical, footwear and clothing items.

With 56 per cent of young consumers, aged 15 to 24, expecting to buy something this Black Friday, Verdict concludes that the event has a large appeal to youths. Among those aged 25-34, two thirds (59 per cent) expect to purchase something on Black Friday.

On the other hand, consumers older than sixty-five were less likely to take advantage of the Black Friday sales, with just 28 per cent expected to buy an item.

It was also found by Verdict that 25 per cent of consumers will start their Christmas shopping earlier this year.

Positively for retailers, the research suggests that more money is going to be made this Black Friday than in previous years, and this will kick start higher spending for the Christmas period. According to the findings, a further £2.6 billion in sales is expected to be spent over this Christmas period in comparison to 2013, when £90.7 billion was spent.

In 2013, £37.1 billion was spent on consumable goods and £53.6 billion was spent on non-consumable items.

Of the total Christmas spend, £13 billion is anticipated to be spent online, with click and collect services expected to draw in £1.6 billion of sales.

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