As the dust settles on the pre-Christmas sales period it’s clear that once again UK consumer behaviour has changed.
According to Experian and IMRG a record-breaking £3.3billion was spent in total over the weekend of Black Friday and Cyber Monday.
As we predicted (and have already reported), the focus on Black Friday shifted from physical stores and high streets to the online world. But what is also striking is that not only was more activity conducted online but interest and spending was more evenly spread over the entire four day period rather than being restricted to just the Friday and the Monday.
According to the Experian and IMRG index £1.1billion was spent on Black Friday, £561million on the Saturday, £676million on the Sunday and £968million on Cyber Monday. Yes, this shows there was clearly a peak on Black Friday but activity continued throughout the weekend and increased again on Cyber Monday.
This change is one which will have been driven by retailers with extended sales periods and marketing campaigns which kicked off weeks before the big weekend. This is a trend we see will continue in future years with Black Friday and Cyber Monday being grouped into a single period of pre-Christmas reductions – aimed at consumers wanting to get a good deal before the Christmas rush and those wanting to get a good deal on Christmas presents.
Also on the horizon is Manic Monday – which has previously been viewed by consumers as the last chance to order goods online and ensure pre-Christmas delivery. This year we are expecting £733m to be spent on this day, a 10% increase year-on-year.
Past evidence has shown that in the final days running up to Christmas footfall increases as shoppers dash out to buy last minute gifts and supplies. While the trust in online delivery and the logistics involved is constantly increasing (how long before we get deliveries on Christmas Day?) the requirement for such last minute dashes to the shops will always be there.
Retailers with bricks and mortar stores should also be preparing for the post-Christmas sales rush, which Experian has found is more likely to be attractive to consumers who prefer shopping in-store.
Experian Marketing Services is a leading global provider of consumer insights, targeting, data quality and cross-channel marketing. We help organisations intelligently interact with today’s empowered and hyper-connected consumers.
By helping marketers identify their best customers, find more of them, and then coordinate seamless and intelligent interactions across the most appropriate channels, Experian Marketing Services’ clients can deepen customer loyalty, strengthen brand advocacy and maximise profits.