UK consumers uncertain about Black Friday

Most UK consumers intend to spend less this Black Friday, with many uncertain about just how much they will spend and even what they will spend it on – an indication that they're on the lookout for the best deals.

That’s according to consumer research platform Attest, which finds that 58% will be spending less than last year because of the rising cost of living, although 74% do plan to spend at least something.

How much spending and where? 

• Given a range of spending options, people were most likely to say they’re not sure how much they’ll spend (24%), pointing to economic uncertainty, followed by £51-£100 (20%). Compare that with last year when 30% indicated they’d be spending £100-£200.
• Asked what they’ll be buying, most people (34%) are “not sure yet”; but clothing (32%) is ahead of tech items (28%) for the first time.
• This year will predominantly be an online-only affair. Almost two-thirds (63%) will make purchases exclusively online, and just 10% will venture into the shops.
• Amazon is the top choice for Black Friday sales, followed far behind by Currys and John Lewis.

 What consumers think of Black Friday

• Nearly half (49%) agree it is the best day to buy discounted products (more than last year’s 38%). 
• Only slightly fewer (43%) think the Black Friday sales event should be limited to one to three days at most, followed by 33% who believe it should just be a one-day event.

Retailers face a tough Christmas 

Attest also found that an overwhelming majority (77%) plan to radically change their present-buying strategies this year – whether that’s fewer presents to loved ones, cheaper presents or fewer people being gifted. 

Sourced from Attest

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