UK consumers are losing interest in Black Friday according to Sitecore’s Holiday Shopping Trends 2021 Report that reveals only 40 per cent of the public are planning to shop this year and 24 per cent are still unsure about buying something on the day. This could be because 40 per cent no longer believe the event offers good deals and the fact that the majority (62 per cent) will have already started their Christmas shopping by Black Friday. Only 4 per cent said they will kick off their festive shopping during the event.
“The role that Black Friday plays in the lead up to Christmas in the UK is waning. With brands fighting harder than ever to differentiate their offer, there must now be a bigger focus on offering personalised experiences, unique to a brand, rather than just flash sales,” said Paige O’Neill, Sitecore CMO. “We know customer expectations have never been higher, and while there is still a place for deals, brands should focus on earning loyalty through an intimate understanding of buyer motivations. If brands then transform this data into personalised content, offers and experiences, they will increase sales.”
With 18 months of social distancing and rising infection numbers, it is no surprise that wanting to avoid crowds is one of the top three reasons why UK consumers are not planning to shop on Black Friday (cited by 29 per cent of respondents). The fact the event is now associated with over-consumption (35 per cent) could also be hampering interest. UK consumers also have different priorities for Christmas this year, wanting to make up for many being away from loved ones last year. 58 per cent say they would prefer experience-based gifts over ‘more stuff’ and 65 per cent want the gifts they do buy to mean something, or have a story behind them, so will avoid ‘one-stop shops’.
While the perception that the deals offered on Black Friday are not worth it, discounting and deals remain a top priority for consumers. When online shopping this holiday season, early discounts and deals was cited as most important buying factor for 68 per cent of UK consumers. The next most important was exclusive pre-sale deals for loyal customers, valued by nearly half of respondents (47 per cent). Personalisation is key to true brand success with the right product offered at the right time. 44 per cent of all UK consumers already want to be offered personalised suggestions from their favourite brands this holiday season, a figure that increases to 62 per cent among 18 –44-year-olds.
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