New data shows over half of consumers to make purchases over Black Friday period
New data from CACI has suggested that over half of consumers will make purchases over this autumn’s Black Friday and Cyber Monday period.
The research suggests that both Christmas gifting and the timing of payday are shaping when shoppers can afford to buy. This year, payday for a quarter of working adults falls on Monday 30th November, the last working day of the month and Cyber Monday itself. By Black Friday, which falls on 27th November, many shoppers will have a lower disposable income. As a result, brands – such as Currys, Dunelm, Sephora and Boots – are rolling out their Black Friday offers early.
Insight from CACI’s most recent Voice of the Nation Survey, which analyses data from a sample of 2,000 respondents across the UK, found that:
- 57% of consumers are expected to make purchases over the Black Friday/Cyber Monday period. This rises to 83% among under-35s and falls to below 40% among over-55s. Stretched Society are the most likely Acorn demographic group to shop, at 61%.
- Of those planning to shop, 58% intend to purchase Christmas gifts, while 40% plan to buy something for themselves. Among shoppers with children under 18 at home, 64% intend to purchase Christmas gifts, compared to 55% of those without children. Regionally, 77% of Welsh shoppers plan to use the period to buy Christmas gifts, compared to just 52% of London shoppers.
- However, that data found that there is no notable difference between rural-based and urban-based shoppers. Age is a factor, with older shoppers slightly more likely to buy for Christmas and a lot less likely to buy for themselves (35% of over 45s, compared with 43% of under 45s).
- 63% of female shoppers plan to buy gifts, compared to 53% of male shoppers. However, men are more likely to buy something for themselves (44% compared to 36% of women).
- 26% of consumers said they are paid on the last working day of the month, meaning they will not receive their salary until Cyber Monday this year.
- 19% of consumers say they like finding bargains on Black Friday, even if they do not really need them.
Chris Lidington, director of Retail, FMCG, and logistics at CACI said, “The recent Voice of the Nation survey findings reveal that Black Friday and Cyber Monday remain an important opportunity for retailers, but understanding what is driving consumer spending is key. With Christmas gifting emerging as the primary motivation for many shoppers, retailers have an opportunity to capture seasonal spend earlier, while differences across genders, household types, and regions highlight the importance of understanding their audiences.
“Timing is a big part of this. With payday not landing until Cyber Monday for a quarter of UK adults, many shoppers will be at their most financially stretched when Black Friday arrives, which explains why so many brands are bringing their offers forward to catch spend earlier in the month. With only around one in five shoppers saying they enjoy hunting for bargains they don’t really need, the findings suggest that a successful Black Friday strategy is about more than price promotions. It is about understanding consumer priorities and giving people a compelling reason to buy, at the point they are ready to spend.”