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As Black Friday comes to a close for another year, it’s evident that this seasonal shopping event continues to hold a pivotal place in the UK retail calendar. The real question everyone is asking though, is Black Friday still beneficial to retailers and shoppers?
Our recent Golden Quarter Survey shed some light on this question, revealing that Black Friday has solidified its role as a major catalyst for the Christmas shopping season. Many customers now use this time to kickstart their holiday preparations, with the proportion of shoppers buying Christmas presents in late November nearly doubling compared to earlier weeks.
Findings from our recent Golden Quarter Survey, indicates that Black Friday is almost as significant as December in driving retail spending. Nearly two-thirds (63%) of shoppers now purchase gifts during the Black Friday period, a dramatic increase from just 17% in 2023. This shift underscores how Black Friday has evolved from a one-day bargain hunt to a key event the retail calendar, enabling consumers to secure discounts well ahead of the December rush.
Boost in Footfall and Retail Activity
Black Friday also had a significant impact on foot traffic to UK shopping centres. According to REVO, the week of Black Friday saw a +13.3% increase in footfall week on week, and a +2.4% rise year on year. This was further amplified by the recovery from Storm Bert, which boosted activity levels. Notably, footfall levels surpassed those seen during the Black Friday week of 2023, with a strong +7.7% week-on-week increase compared to last year.
Shopping centres experienced a surge in footfall from Monday and Tuesday, with average increases of +11.9%, indicating that many shoppers were already preparing for Black Friday deals. As the week progressed, foot traffic surged further, particularly on Saturday, which saw a +28% increase.
Evening Shopping and Leisure Trends
Black Friday saw particularly strong late-evening foot traffic, with numbers rising by +12.8% after 5 p.m. This trend suggests that consumers are increasingly taking advantage of the extended hours, possibly to avoid daytime crowds or to enjoy the full shopping experience, which now includes dining and entertainment options available within shopping centres.
Larger centres (those over 500,000 sq ft) saw the greatest increase in footfall, rising by +15.3% week on week, while smaller centres (under 100,000 sq ft) followed closely behind with a +14% rise. This demonstrates the wide appeal of Black Friday across different types of shopping destinations, with both larger and smaller shopping centres attracting significant numbers of shoppers.
Consumers are Spending More
The event’s growing impact is further highlighted by data from global payment provider Barclaycard, which reported a 9.5% rise in UK retail transactions compared to Black Friday 2023. This surge displays the power of Black Friday in boosting sales and consumer engagement.
This is welcome news for retailers, as the surge in consumer spending helps set the stage for a strong Christmas shopping season. With Christmas Day just around the corner, retailers are likely to be encouraged by the higher-than-expected footfall and spending, which bodes well for the final shopping push in December.
Black Friday continues to grow in significance, both as a key moment in the retail calendar and as an opportunity for consumers to make their money go further. With its increasing influence on the start of the Christmas shopping period, it’s clear that this once-single-day event has now become a crucial part of the Christmas season. For both retailers and shoppers, Black Friday offers a chance to kickstart the festive shopping spree, with many eager to snap up discounts and make the most of the season’s best deals.