Black Friday 2023 Sets New High in UK with Astounding Online Spending
Black Friday 2023 set a new benchmark for online shopping in the UK, with an unprecedented spend of £1.04 billion, a 4.1% increase from the previous year.
This surge in digital consumer spending was meticulously tracked by Adobe Digital Insights, using Adobe Analytics to monitor millions of retail website visits and pricing trends across 18 product categories.
Vivek Pandya, the lead analyst at Adobe Digital Insights, emphasized Black Friday’s critical role in spurring sales for retailers during the key holiday period and providing consumers with significant savings opportunities.
Key insights from the Adobe Analytics data on the UK’s Black Friday online spending include:
- The total holiday season spending from November 1st to 24th reached £9.6 billion, marking a 4.7% increase from 2022.
- Buy Now Pay Later (BNPL) services were notably popular, accounting for 9.7% of Black Friday’s online spending, totaling £101 million. This represents a 3.4% rise compared to Black Friday 2022, with BNPL spending from November 1st to 24th amounting to £1.3 billion.
- Among the most sought-after products were Micro scooters, puzzles, jelly cats, slippers, gift boxes, jewelry, and personal care items. The average online discount was 12%, with apparel seeing the biggest price cuts at 14% off pre-holiday levels.
- The use of Click and Collect services increased significantly, representing 8% of Black Friday orders for participating retailers, a substantial 24.7% jump from 2022.
- In London, online spending on Black Friday alone reached £251 million, up 4.6% year-over-year.
The record-breaking online spend of £1.04 billion underscores the UK consumer’s eagerness to capitalize on Black Friday deals, cementing the event’s status as the most significant online shopping day of 2023.