From clicks to customers: statistics businesses need to know for Black Friday 2024

Over the past 10 years, Black Friday has become one of the most anticipated seasonal events in the retail calendar. For businesses, it offers the opportunity to boost their sales in the final quarter, while for consumers it is a chance to begin their holiday shopping early and take advantage of attractive deals.

Previously known for chaotic crowds and in-store shopping, in recent years many retailers have shifted to offer digital sales to accommodate the rise in online shopping and the continual death of the high street.

In preparation for the upcoming event on Friday 29th November, this article provides crucial insights that every business needs to know to help inform their Black Friday strategies.

To learn more about how Embryo can play a part in your digital marketing strategy, get in touch with our team today! Alternatively, have a look at our 2024 guide to all things Black Friday – ‘Code Black‘

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The background to Black Friday in 6 stats

1. Black Friday was first created in the USA in the 1950s. (NBC) Amazon was the first retailer to introduce Black Friday offers to UK customers in 2010. (Insider)
2. Traditionally Back Friday falls on the first Friday after Thanksgiving, however, the start and end dates are no longer well-defined, with deals beginning as early as October. (Tech Advisor)
3. Although it is an American tradition, it has become one of the biggest dates in the retail calendar in the UK in terms of sales. (Statista)
4. Retailers often offer discounts of around 30-50%. (Gitnux)
5. Electronics and technology are the most popular items to purchase during the event. (Money)
6. As larger retailers are known to cannibalise Black Friday, the founder of Not On The HighStreet, Holly Tucker, introduced ‘Colour Friday’ in 2021 to promote independent retailers and get customers to shop locally during the sales. (Simply Business)

Black Friday buyer behaviour in 10 statistics

1. 79% of online traffic on Black Friday came from mobile devices. (Salesforce)
2. The event sees lower abandoned cart rates which demonstrates consumers want to complete their purchases before the sales expire. (Fit Small Business)
3. Most shoppers only buy one item during Black Friday promotions. (Mintel)
4. 51% of Black Friday shoppers bought impulse purchases. (Mintel)
5. Over half of people delay a purchase ahead of Black Friday. (Mintel)
6. Discounts on exclusive products tend to entice low-income consumers. (Mintel)
7. Black Friday sees 3x the traffic of a normal October day (Queue It) meaning businesses need to ensure a robust server infrastructure.
8. Since 2010, there has been an estimated 7.7% increase in spending, year-on-year (Citcom)
9. Since 2021, the percentage of people getting involved in Black Friday has increased, however, the average spending per person has decreased (Citcom)
10. 46% of consumers usually have at least one electronic/appliance product on their list (Metro)

2024 Black Friday predictions

1. In 2024, spending across Black Friday weekend is estimated to hit £3.8 billion (Finder)
2. 2024 is the first year since 2020 where the average spend of customers has increased (Finder)
3. The average person is expected to spend £122 in the Black Friday sales
4. 3 in 5 UK adults are planning to make at least one purchase  (Finder)
5. Men on average will spend £20 more on Black Friday compared to women, a pattern consistent with previous years. (Finder)
6. Overall, 34% of people plan to spend more than they did in 2023 (Metro)
7. 86% of Gen-Z and 80% of Millenials plan to spend this Black Friday, compared to just 31% of baby boomers (Finder)
8. Younger generations plan to spend around £180 each, whereas those over 55 are estimated to spend on average £50 each. (Finder)
9. The highest spending will be carried out by those in London (73% population) and Northern Ireland (72% population)
10. Only 43% of the population in the South West plan to take part in the Black Friday sales
11. 1 in 2 people are starting their shopping at least 2 weeks earlier this year (Metro)
12. 74% of British customers are sceptical about whether the deals offered on Black Friday are genuine.

Need help ensuring your Black Friday is the best ever?

If you’d like to learn more about how Embryo can help you with your Black Friday marketing strategies or any of our other services, reach out to us today.

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