Marketplace Ebay is predicting a “reimagined Black Friday” this year as the rising cost of living has left 50 percent of UK consumers holding off on deals throughout the year to make the most of deeper discounts this Black Friday.
According to new research from Ebay carried out by Markettiers, it found that almost half (48 percent) of Brits will be shopping on Black Friday this year and the retail period will be most popular amongst Gen-Zs (16–26-year-olds) where 68 percent predict they will make discounted purchases.
Ebay notes that Gen-Z consumers will also consider shopping pre-loved this Black Friday, with almost two-thirds (62 percent) of them specifically considering making non-new purchases, which it adds suggests “a reimagined Black Friday is on the horizon”.
Money-saving continues to be a top driver to shop non-new, with 19 percent of Gen-Zs adding it was looking for non-new bargains as vintage and pre-loved is more “fashionable” and “on-trend” today.
Eve Williams, general manager of Ebay UK, said in a statement: “It’s clear that amidst a cost of living crisis, shoppers are approaching Black Friday with a money-saving mindset. What’s been really promising to see this year is that although great deals and savings are still front of mind, Gen-Zs are actually leading the charge with what we’re terming a ‘reimagined Black Friday’ - one that’s got both economic and environmental benefits.
“Last year, we made a big bet by focusing exclusively on non-new and refurbished products in eBay’s Black Friday marketing, and we saw an unprecedented appetite for it. With a new generation of more conscious shoppers emerging, we want to ensure we’re providing the best deals on our non-new and refurbished offerings, in the hopes that the trends we’re seeing with the younger generation of Brits continues to grow.”
In 2022, nine of the top 10 Black Friday deals sold on eBay.co.uk were refurbished, with Dyson products, Hotel Chocolat Velvitisers and iPhones topping the list of most popular products.