UK spending over the upcoming Black Friday Weekend and Cyber Money (BFCM) is predicted to rise a marginal 0.4 per cent year-on-year to £ 8.74 billion.
According to online portal VoucherCodes.co.uk, this will occur as buyers seek deals while remaining cautious in the run-up to Christmas.
The good news is that 44 per cent of Britons attending the event this weekend will be looking for apparel and footwear reductions, while 30 per cent will be looking for beauty-related bargains.
Although sales will stay consistent this year, many buyers will wait until Cyber Monday to guarantee they receive the greatest price, according to the report.
Cyber Monday sales are estimated to hit £ 3.34 billion, a 6 per cent rise over last year. In instance, spending on Black Friday alone is expected to dip 0.2 per cent to £ 3.01 billion, a £ 6 million decrease from 2022.
Despite growing living costs putting a strain on consumer finances, 40 per cent of shoppers anticipate making a purchase during the season. That means £ 2.63 million will be spent online and in-store every minute during the weekend, equal to £ 157.79 million spent per hour – a 0.6 per cent increase.
Following in the footsteps of 2022, several retailers are planning to expand their Black Friday deals to a two-week period, with the survey predicting that customers will spend a total of £ 22.67 billion during the extended period, representing a 0.2 per cent increase.
Anita Naik, Savings Expert at VoucherCodes, said, “After a tough year of economic uncertainty, Black Friday Weekend sales will remain steady as consumers continue to be more cautious with their spending.”
