Black Friday weekend expected to draw in 8.74 billion pounds

UK shoppers have been forecast to spend a massive 8.74 billion pounds over the course of Black Friday weekend, according to a new report by VoucherCodes.

The discount platform said that this marginal 0.4 percent rise in sales, as compared to the previous year, comes despite the rising pressure caused by the ongoing cost-of-living crisis in the region.

Next to this, the report further predicted that it was likely shoppers were going to wait till Cyber Monday to get the best deals, with sales expected to see a 6 percent YoY increase to 3.34 billion pounds, compared to the 3.17 billion pounds spent in 2022.

VoucherCodes added that around 40 percent of shoppers said they were expecting to make purchases over the Black Friday weekend, with 44 percent stating that they were to spend money on discounted clothing and footwear.

Akin to the year prior, retailers are also preparing to extend promotions over a two-week period, resulting in a potential total spend of 22.67 billion pounds – a growth of 0.2 percent YoY.

On the report, VoucherCodes’ savings expert Anita Naik 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.

“Although shoppers will be using this time to stock up on presents ahead of Christmas, people will be making much more considered purchases this year with many waiting until Cyber Monday to ensure they are getting their desired products at the cheapest price.”