Last year 21% of us purchased something on Black Friday or Cyber Monday that they later regretted. Here are some fast facts about the event, and how branches can make the most of the opportunity.
Black Friday and Cyber Monday present a huge opportunity for the network and kick off the busiest trading period of the year. Click and Collect and Returns are important growth areas in the market and have massive potential with regard to Black Friday, where it’s likely we will see an increase in people choosing to collect their sales shopping, and then returning unwanted items.
Hear from one of the branches with the highest volume of returns, Farringdon Road, here.
Black Friday Fast Facts
- On average customers plan to spend estimated £220 each on Black Friday and Cyber Monday
- Average spend per person has gone down, but total amount spent will likely be higher, rising from £4.5bn to £7bn
- Last year, 21% of people in the UK purchased something on Black Friday/Cyber Monday that they later regretted, with 18-35 year olds the most likely – at 30% - to do this
- Amazon is the number one place people search for deals on Black Friday and has featured discounts of up to 87% in the past
- Northern Ireland is the top regional hotspot interested in Black Friday/Cyber Monday, followed by London
- There’s a generation gap: 28% of 18-24 year olds are interested and intend to buy something, and 36% may buy if there’s a good enough deal. 3 in 5 under 45s are interested in the event, but three quarters of over 55s are either not interested or avoid the event altogether
- Electricals/technology and clothes (over double the number of consumers compared to last year) come out top for most spend across the event
Supporting your customers
Getting the basics right in collections and returns is key. We have published some top tips for a booming Black Friday here, and you can still access all the resources from the recent Mails workshops to support you with tips and best practice to share with your teams.
You can also take advantage of the sales regret 1 in 5 of us experience after Black Friday and Cyber Monday by reminding customers they can return their purchases at your branch by sharing these messages on social media.