Voyado has unveiled comprehensive research into UK consumer attitudes towards Black Friday and Black Week 2024. The study, conducted between 1st and 5th November 2024, surveyed 2,010 respondents across the UK, revealing key insights into consumer spending habits during the discount week.
The research shows that 48 per cent of UK consumers who correctly identified the purpose of Black Friday are influenced by discounts offered during Black Friday Week.
More than a quarter of Black Friday shoppers (27 per cent) feel some level of pressure to buy during Black Friday week, with younger consumers (mainly 16–24-year-olds) experiencing the highest pressures. 48 per cent of Gen Z Black Friday shoppers acknowledged being driven by FOMO, making them significantly more likely to feel pressure during this time of year.
The survey also revealed interesting regional variations. Consumers in Greater London reported higher pressure levels to buy compared to other regions, perhaps due to more high street stores and deals on their doorstep.
As expected, 50 per cent of UK respondents who participate in Black Friday prefer online shopping during Black Friday week. Of those, 51 per cent of females leaned towards online shopping, preferring the convenience of better discounts and avoiding crowds. Interestingly, while most consumers who make Black Friday purchases favour online shopping, 16–24-year-olds are more likely than other age groups to shop in-store (35 per cent), showing a slight divergence from the overall trend. This emphasises the importance of an omnichannel approach, offering retailers a strategic opportunity to capture sales through a blend of online and unique in-store experiences. By integrating click-and-collect models or unique in-store experiences, businesses can combine the convenience of e-commerce with the personalised engagement of physical stores.
Erica Sandelin Ekelund, CEO of Voyado, said: “These findings highlight how important it is for retailers to stand out during Black Friday. With consumers planning their purchases in advance and facing pressure to buy, it’s crucial for businesses to promote the right products to the right customers.
“Consumers are more informed than ever, and while discounts matter, trust is an equally important factor driving sales. To make the most of this crucial shopping season, retailers must use their data effectively, segmenting customers based on product interest, purchasing history, location, and more. By doing this, retailers can ensure their offers hit the mark and really speak to shoppers.”
Product preferences also vary, with a third (31 per cent) of UK Black Friday shoppers waiting to buy personal electronics during Black Friday Week, reflecting a growing trend of price-conscious consumers timing purchases around major sales events. The data also showed a focus on fashion, apparel or home goods/ appliance deals, with 25 per cent waiting to make these purchases during the discount period.
As well as offering stand-out deals during promotional events like Black Friday, retailers are increasingly focused on building long-term customer loyalty to encourage repeat purchases and word-of-mouth recommendations. Brands that prioritise putting the customer first not only secure sales during big events, but also “future-proof” relationships that extend beyond discount periods.
Voyado has announced several significant partnerships for 2024, including renowned brands such as Elis Brigham, Pour Moi, Bestseller, and the parenting brand Silver Cross.
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