-
- All Industries /
- Retail /
- UK Black Friday Market Report 2023
UK Black Friday Market Report 2023
- Multiple Report Formats
- Access to our Clients Portal
- Interactive Databook
- Custom Presentation Tool
The UK Black Friday Market Report examines consumers’ participation and shopping habits in Black Friday promotions, leading Black Friday retailers and the impact of rising inflation on the Black Friday landscape. This report covers the UK Black Friday market size, market forecast, market segmentation and industry trends.
Total sales during Black Friday 2022 reached an estimated £12.3 billion, up 8.3% year-on-year.
Black Friday is one of the most anticipated seasonal events in the retail calendar, with retailers hoping to boost sales in the crucial final quarter – while for consumers, it’s a chance to start their holiday shopping early and take advantage of deals leading up to Black Friday. Despite financial pressures, engagement with Black Friday continued to grow in 2022, with 49% buying at least one item in the promotions.
Mintel’s Black Friday market research outlined that the financial squeeze in 2022 actually heightened the event’s role, with 63% of consumers agreeing that the financial concerns made Black Friday promotions more important than last year. With deals to be found throughout the majority of November, many use Black Friday as a way to spread costs during Christmas and will make use of deals to buy Christmas gifts – something the cost of living crisis has served to strengthen.
Going forward, retailers need to help build a more positive experience around Black Friday shopping as this would encourage 84% to shop with a retailer again. People are becoming more disillusioned about the offers they see and this means that brands and retailers need to work harder to demonstrate how good the deals are. This is even more important with consumers prioritising value above all else in the face of a recession, and making promotions unclear or confusing will likely turn customers away.
To discover more about the UK Black Friday Market Report 2023, read our UK Online Retailing Market Report 2022, or take a look at our other Retail Market Research.
Asos, Boots, The Fragrance Shop, Klarna, Amazon, eBay, Dizons Stores Group, Etsy, M&S, Argos, John Lewis, The Very Group, TK Maxx, Furniture Village, JD Sports, ScS, Matalan, Wayfair, Shein, Hillarys Blinds, Wilkos, Screwfix.
This report, written by Emily Viberg, a leading analyst in the retail sector, delivers in-depth commentary and analysis to highlight current trends in the Black Friday market and add expert context to the numbers.
Pressure on household finances amplified the role of Black Friday in 2022 with nearly half of consumers participating in the event (49%). During a time of heightened value-consciousness, Black Friday savings were naturally more important, which looking forward to 2023, will continue to ring true as finances remain under pressure. However, without reinvigoration Black Friday risks losing interest, with growing scepticism among shoppers about savings available during the event.”
Emily Viberg
Retail Analyst
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
Access high-quality market research with every purchase of Mintel’s consumer reports. Here’s what else is included in your report purchase:
From consumer reports to customised growth strategies. We have an option to suit your business requirements.
Find out more£ 5,000 – £ 21,600
Mintel’s 2024-25 Global Outlook on Sustainability: A Consumer Study is designed to help you understand what brands and companies should prioritise in order to educate consumers and ensure...
Find out more£ 2,195
Engagement levels for Halloween and Bonfire Night rose in 2024, with greater promotional activity from brands and retailers helping encourage shoppers, whether in or out of home, to...
Find out more£ 2,195
Consumers have become thriftier, as many of the value focused behaviours adopted at the height of the cost-of-living crisis have stuck, with 62% buying new clothes that combine...
Find out more£ 2,195
Rising living costs are still a factor for the vast majority of consumers. However, we are seeing differences in the rate of recovery, with higher earners the most...
Find out more£ 2,195
Consumer confidence continues to be highly polarised, and the budget has done little to boost short-term confidence. The majority of high-income households now say they are better off...
Find out more£ 2,195
With the vast majority of spend on groceries (88%) still being made in-store, it is concerning that 31% of UK in-store grocery shoppers think the place they do...
Find out moreFrom consumer reports to customised growth strategies. We have an option to suit your business requirements.
Find out more