UK retailers to make £8.74 billion over Black Friday ‘weekend’

UK retailers are expected to make £8.74 billion over the four-day Black Friday ‘weekend’ – covering Black Friday itself on 24 November and up to and including Cyber Monday on 27 November 2023.

That’s according to the Shopping for Christmas 2023: Black Friday Weekend Report by savings site VoucherCodes.co.uk. The prediction means that this year’s total Black Friday weekend sales will be up by a marginal 0.4% from £8.71 billion in 2022.

Other key statistics include:

• £2.63 million will be spent every minute this Black Friday weekend.
• Cyber Monday sales are estimated to be up 6% year-on-year, reaching a total of £3.34 billion.
• £22.67 billion is expected to be spent by consumers over the two-week Black Friday period.
• 40% of Brits are predicted to make a purchase this Black Friday weekend.

When it comes to the items consumers are snapping up first, nearly half (46%) of shoppers plan to pick up big ticket items such as electricals, followed closely by discounted clothing and footwear (44%), toys (35%) and cosmetics (30%).

Michael Brandy, Senior Commercial Director at VoucherCodes, said: “After a year of economic uncertainty and with consumers being cautious with their spending, it’s good news that UK retailers can expect to see Black Friday weekend sales remain steady.

“It’s clear from our data that people will be using the weekend to stock up on presents ahead of Christmas, however, shoppers will be making much more considered purchases this year - with many expected to wait until Cyber Monday to ensure they are getting the best deals.

“This year more than ever, retailers should think about how they can provide genuine value and make the customer experience as convenient as possible. Offering services such as free shipping, click and collect, and nominated day delivery can help build loyalty with customers and differentiate from competitors.”

The Shopping for Christmas 2023: Black Friday Weekend report was commissioned by VoucherCodes.co.uk, with comprehensive data provided by GlobalData Retail.

It anticipates total retail sales over the six-week period leading up to Christmas, and the report highlights the behaviour of shoppers, taking into consideration the current economic outlook and recent cultural events.