It's the main date in every bargain hunter's diary - and this year's Black Friday looks set to be as big as ever, despite the cost of living crisis.
Black Friday and its sidekick Cyber Monday have snowballed into the nation's biggest sales bonanzas, with the offers often starting well in advance of the big days - November 25 and 28 this year.
Despite sky-high energy bills, soaring food costs and raised mortgage rates, interest in Black Friday has held up, according to research by global accountancy firm PwC, which carries out a survey in the run up to Black Friday weekend every year. This year, it found that 24% of people are planning to buy something, with a total of £7.5b forecasted to be spent in the UK.
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A further 37% of consumers said they may buy something (up 2% from 2021) and consumers stating they will definitely buy matching 2021 levels, in contrast to 2020 levels where only 16% of consumers planned to purchase in the Black Friday period. PwC estimates the average spend per consumer to be around £238, which will add an extra £0.5billion to the retail economy compared to last year's spend.
Black Friday originated in the USA and is always the day after Thanksgiving. Because many people are off work, shops drop prices – historically for one day only – to start the Christmas season. Thanks to American retailers like Amazon and Mal-Mart owned Asda, UK shops have since caught on to this trend and it was brought across the pond over a decade ago. Between 2010 and 2013, Black Friday gradually built up momentum in the UK and in 2014, Black Friday became the peak pre-Christmas online sales day and online retailers haven't looked back since.
Black Friday's newer cousin, Cyber Monday, joined the party in in the US in 2005, when the National Retail Federation, an American trade association, noticed a spike in online sales the Monday after Thanksgiving. 2020's Cyber Monday was the most successful digital sales day ever to have taken place to that point, although it was then beaten by this year's Amazon Prime Day 2021, proving that our appetite for online shopping just keeps on growing.
Lisa Hooker of PwC said: "“There has been a lot of commentary that shoppers are less interested in Black Friday this year, but that is not what consumers are telling us, with expected spend estimated to be £0.5bn higher than last year as people look for treats and bargains or try to spread the cost of Christmas over a longer time period. Consumers have been closely monitoring their favourite brands in anticipation of big ticket electronics, more pricey winter wear or Christmas stocking fillers being discounted, and they’re in search of bargains more than ever given rising inflation.”
Research by online coupon platform Wethrift has uncovered the top seven trending products in the lead-up to Black Friday and Christmas by analysing Google search volume data. Unsurprisingly, searches for slow cookers, electric blankets and air fryers are high in the chart, but there are some wildcards in there too.
Wethrift expert Nick Drewe gives his insight into why these products are in demand.
Mini UGG boots - 1600%: The temperatures have dropped, so cosy outfits are on everyone's minds. This year's UGG boot is a much shorter take on the classic sheepskin boot - the ultra mini.
Nick says: "As we approach Black Friday and Christmas, the demand for the mini UGG boot has increased by a whopping 1600%, while over on TikTok the #uggseason hashtag has amassed a colossal 118.6 million views. Celebrities like Kendall and Dua Lipa have been seen sporting the trend."
Soup maker - 509%: When the weather turns chilly, soup is the ultimate healthy comfort food and as we approach winter, more people are searching for soup makers, which do the whole job for you.
Nick says: “Amid the rising cost of living crisis, the demand for soup makers is on the rise, as more homeowners are looking for ways to save energy and money. The soup maker is a savvy alternative to preparing soup dishes on the hob, as it takes between 20 to 30 minutes from scratch.”
Dehumidifier - 455%: This year's must-have gadget is the talk of the internet, as it can be used to dry clothes as an alternative to using a tumble dryer and has the added bonus of helping with condensation and damp in your home.
Nick says: "Dehumidifiers can help to reduce the cost of heating bills, as the moisture in the air is what makes a room feel cold.”
Electric blanket - 425%: Who doesn't love getting into a warm bed, especially if you are limiting heating to save on energy bills.
Nick says: “Heated blankets are a great way to reduce energy bills quite considerably, as they keep you warm without the need to heat the entire house.”
Espresso machine - 400%: Maybe it's the people working from home who miss a decent cup of coffee, or maybe it's commuters trying to cut out their daily coffee shop treat. Either way, the demand for espresso machines is on the rise.
Nick says: “Coffee and espresso machines are an expensive purchase, that’s why savvy shoppers search for Black Friday and Cyber Monday deals to cut down the cost. In the lead up to the sale weekend, big sites like Currys and Very have already started slashing their prices.”
Slow cooker - 257%: The cost of living is driving the demand for energy-saving kitchen appliances, including air fryers and slow cookers.
Nick says: “Slow cookers typically use less energy than a gas or electric cooker, which is fuelling the demand for the product, as more people find ways to cut back on their energy consumption.”
Air fryer - 213%: Viral cooking videos on the social media platform TikTok have driven a huge surge in demand for air fryers over the past year.
Nick says: “There has been a big shift in what products Christmas shoppers are looking for this Black Friday, we’ve seen a shift from TVs, gaming consoles and mobile phones to energy-efficient ways people can heat their home, cook food and get through winter.”
Dyson Airwrap - 181%: First launched back in 2018, the Dyson Airwrap has been a top trending product every Christmas.
Nick says: “The multi-functional hair tool comes with an eye-watering price tag, that's why in the lead up to Black Friday and Cyber Monday searches for the product increase massively.”
Now read:
- Lidl Black Friday sale launches today with TVs, laptops and tech for under £200
- Newcastle Christmas market map and guide to this year's stalls
- Don't Pay UK calls for December 1 bills strike after 'death sentence' Autumn Statement
- "There is a marked decline": Annual County Durham toy appeal suffers as cost of living crisis bites
- When Tesco, Sainsbury's, Asda and Morrisons will be running their 25% off 6 bottles of wine deals
