Home Human Resources News Black Friday frenzy: Over £12,000 being spent every minute

Black Friday frenzy: Over £12,000 being spent every minute

24th Nov 17 3:03 pm

Find top picks for shopping here!

  • From midnight until 10am today morning, there was over 30,000 transactions
  • More than 20,000 people have made purchases so far
  • Data team at TopCashback has estimated that by the end of the day, around £15m will be spent via TopCashback, and in excess of £1.4bn to be spent online as a whole
  • This equates to £25.40 spent online per person in the UK

Black Friday, which now includes weekend shopping promotions and Cyber Monday, has surged in popularity in the UK in recent years, and has become big in mainland Europe.

Looking at the sales figures, Adam Bullock, UK Director of TopCashback.co.uk, said: “Black Friday is shaping up to be the biggest shopping day we have ever seen. This morning alone, over £12,500 a minute is being spent on site and we are expecting this to increase drastically throughout the day. In the run up to today, there was a 50% increase in Black Friday spending compared to the same point in 2016 which goes to show, like it or loath it, it is now a weeklong shopping event rather than just a day. Interestingly, we are also seeing a spike in mobile spending, for every £20 spent online £4 is being spent on mobile. This increase is more than a third of the activity we normally see.”

Top picks this Black Friday:
1.Clothes (36%)
2.Beauty (25%)
3. Toys (24%)
4. Home goods (20%)
5. TV (17%)
6.Laptop (15%)
7.Tablet / iPad (14%)
8. New phone (14%)
9.Kitchen equipment (13%)
10.DVDs (12%)

The firm’s research findings suggest:

  • Only 12 per cent of consumers are not planning to shop on Black Friday
  • More than two-fifths (41 per cent) of UK consumers have been waiting for Black Friday sales to buy a big ticket items they want or need – 45% have been holding-off since September, 19 per cent since August, and 16 per cent since April or earlier in the year.
  • In 2016 consumers were prepared to spend £421, and this year are expecting to spend £553, Consumers are surprisingly only looking for a £66 saving
  • Only 2 per cent of shoppers plan to shop exclusively instore compared to 68% who will only be shopping online.

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