Shoppers in Wales are prepared to spend big for a Black Friday deal, new PwC research shows.
Across the UK, consumers in Wales will spend the most at an average of £334 per person – the UK average is £225, according to respondents.
The other big spenders are Londoners with an expected outlay of £297, followed by North West shoppers (£246). At the other end of the spectrum, those in Scotland (£150) and the South West (£173) will spend the least on the annual end-of-year bargain hunt.
But the landscape for Black Friday [today] has changed in the UK – interest in it here is lower than all other countries in the new survey (France, Germany, Ireland, the Netherlands and South Africa).
Of those in the UK spending less this year, almost a third believe that the deals aren’t exciting, while 20% believe that deals aren’t genuine. Under 25-year-olds are particularly unimpressed by Black Friday, with the lowest projected spend of just £111 – an 11% decline on last year.
The survey also found an increasing gender divide in attitudes to Black Friday, with men planning to spend a third more than women (£254 vs. £191), and men most likely to be planning to buy something for themselves (77%), while women primarily intend to spend on their families (71%).
And where once there was a rush to stores to unearth a bargain, today 77% of Black Friday shopping is done online in the UK.
Felicity Rees, PwC’s Office Senior Partner for Cardiff, commented:
“It’s notable that Welsh consumers are prepared to spend the most on Black Friday. Our recent report into the state of the high street shows the impact of changes in how people are shopping. But it’s clear that people will always be on the lookout for a good deal as part of their Christmas shopping – whether that’s in shops or, as this new research shows, increasingly done online.”
Lisa Hooker, consumer markets leader at PwC, said:
“While it’s become a firm fixture in the retail calendar, Black Friday is perhaps also the most polarising. We’re seeing growing scepticism towards the event, with nearly half of respondents claiming to be uninterested in Black Friday promotions, or avoiding it altogether.
“Some consumers doubt the quality of the deals on offer, with many seeing them as not especially good value or not worthy of interest, and this is likely to have been exacerbated as Black Friday deals have spread to the whole of ‘Blackvember’.
“This situation creates an interesting conundrum for retailers, who still need to serve the 52% of consumers who are looking forward to Black Friday for deals, or as an integral way of saving money for Christmas.
“Retailers clearly can’t ignore the event and do not want to risk losing out to rivals, but they need to manage it smartly to avoid alienating a large section of consumers. And for certain retailers, such as those in the electricals and technology sector, Black Friday is a non-negotiable.”