UK shoppers plan record Black Friday spend, survey reveals

The Bank of England has reported a rise in inflation, prompting UK consumers to seek cost-effective ways to purchase gifts as the festive season approaches.

According to a new survey by GXO Logistics, 54% of British consumers plan to take advantage of Black Friday and Cyber Monday sales for their Christmas shopping. On average, UK shoppers have budgeted GBP £352 for presents this year, suggesting a keen interest in securing deals during these promotional periods.

The survey provides insights into the shopping habits of different demographic groups. It indicates that millennials, particularly those aged 25-34, are the most likely to participate in Black Friday shopping. Approximately one in eight shoppers intends to purchase the majority of their Christmas gifts during the Black Friday sales.

The findings also reveal a gender divide, with female consumers more inclined to shop during Black Friday than their male counterparts, who show less interest in waiting for special deals. Gavin Williams, Managing Director of GXO UK and Ireland, stated, "Insight into consumer behaviour during peak shopping periods is essential for our customers to plan successfully to meet demand and ensure a seamless shopping experience." He emphasised the importance of flexible logistics to meet predicted omnichannel demand.

Further analysis from the survey uncovers that consumers aged 25-34 plan to spend the most on Black Friday, with an average expenditure of GBP £315, the highest among all age categories. Over half of the anticipated GBP £352 holiday budget is expected to be used during Black Friday sales.

Martin Newman, known as The Consumer Champion, highlighted the necessity for retailers to prepare for a surge in demand, especially among the younger demographic. "With half of Brits relying on Black Friday for Christmas shopping, retailers need to be ready for a significant surge in demand, especially among the 25-34 age group," he advised. Newman also stressed the need for retailers to provide a seamless omnichannel experience, including services for last-minute shoppers.

The report also noted a 37% increase in online shopping over the past year, with a notable portion of consumers preferring to collect their purchases in-store. Retailers are encouraged to maintain a physical presence while offering efficient return services to meet consumer expectations.

Williams of GXO highlighted the value of these insights, noting how they could refine demand predictions and support flexible logistics. "This research highlights the likely shopping patterns across consumer groups between now and Christmas 2024," he added, pointing to the critical role of logistics in handling peak shopping seasons.