Ahead of Black Friday, the lesser-known discounting event Singles’ Day (11th November) is set to bring sales of £1.7 billion to the UK.
Originating from China, the annual holiday is a celebration of Singledom and is now a growing discounting event across the world. The VoucherCodes Shopping for Christmas report examines the impact of Singles’ Day on retail sales in the UK.
The data shows that shoppers are set to up the ante when it comes to Singles’ Day this year, with a projected annual increase of 13.4 per cent in sales. The 2020 figures reveal consumers spent £1.5 billion splashing out during last year’s Singles’ Day, up from the £1.3 billion spent in 2019.
Although some British retailers will be offering special in-store discounts on the 11th November, for shoppers there is considerable emphasis on the online deals, which are expected to account for 57.8 per cent of total sales at £996 million. This projection is up 15.2 per cent from last year, despite nationwide lockdown measures in place during November 2020 forcing store closures and many retailers’ Singles’ Day promotions to become online only.
Conversely, forecasts for offline sales show a smaller increase of 10.9 per cent in sales, from £656.1 million in 2020 to a predicted £727.5 million in 2021. Whilst offline sales are bouncing back after the pandemic, this Singles’ Day in-store sales will fall behind pre-pandemic levels.
The annual shopping occasion is set to draw in 7.2 million shoppers across the UK, with 4.1 million anticipated to be women, compared to 3.1 million men.
When asked whether they would be making any purchases on Thursday 11th November, almost three in ten (28 per cent) Brits said they intended to buy something.
Anita Naik, Lifestyle Editor at VoucherCodes commented: “After such a tough 18 months, it’s great news for the retail industry to see that this year’s Singles’ Day discounts are set to draw in more customers and more sales than ever before in the UK.
“With shortages for this Christmas season already making the news, Singles’ Day is the perfect opportunity to bag an early bargain and get started on your Christmas shopping early to avoid any disappointment.
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