The UK is the only global market where people will buy significantly more this year, with the average person spending 21% more compared to 2023
Brits are set to be the biggest retail spenders globally this year when it comes to Black Friday and Cyber Monday.
New analysis has found spending among UK consumers during these major shopping days, in late November and early December, will rise from £131.67 to £159.22 on average per shopper. This is an increase by 21% compared to last year, said e-commerce firm Shopify in its Holiday Retail Report.
Its data looked at consumers in Australia, Canada, France, Germany, Italy, Japan, Spain, the UK and the US, finding the UK is the only market out of these where people plan to spend significantly more this year. Shopify said the data will being “welcome optimism” for businesses across the UK following a challenging year for the retail sector. This is also a sign that cost-of-living pressures have started to ease – but people are still focused on getting the best deal.
Half of shoppers said discounts are the main reason for making a Black Friday purchase, while free shipping and/or returns are also important for 42% of people. The Shopify data also found 44% of British consumers plan to evenly split their shopping online and offline, with fashion, electronics and food and drink the top three areas they are focusing on.
Deann Evans, managing director, EMEA at Shopify, said: “After a challenging year for retailers, the findings of our Holiday Retail Report suggest a beacon of hope for businesses that the year can close on a high. This is an opportune moment for brands to create an impactful retail experience and tap into consumer intentions and emotions.”
