High street retailers look set to benefit from bargain hunters and early Christmas shopping.
With Black Friday just three Fridays away, new research from ICM Unlimited shows that almost one quarter (23%) of people plan to buy something on 27th November this year. Seven in ten (71%) people who bought something on Black Friday last year are planning to shop again this year.
One fifth (22%) say they will do their Christmas shopping earlier this year to take advantage of the deals on Black Friday.
At 95%, awareness of the term Black Friday is extremely high, and many people know what it is, and that it originated in the US. Fewer, however, know when it is, so retailers will want to remind people that it’s 27th November and it’s soon.
At present, 23% of people plan to shop on Black Friday, and 28% haven’t made their mind up yet. 42% of 18–35 years olds are planning to buy, 21% of 35-54 year olds and 9% of those aged 55+. For those who have already made their mind up to shop for bargains on 27th November, there’s a wish list that resembles a Generation Game conveyor belt: smartphones, tablets and computers, entertainment, toiletries, beauty and perfume, toys, clothes, shoes and accessories.
Kate Bewick, associate director at ICM Unlimited, explains: “This shopping list suggests people are interested in a far greater variety of items than the very technology-focused products that Black Friday is sometimes associated with. There is a really good opportunity for retailers of all kinds to take advantage of this annual event and offer discounts and incentives for their customers.”