🇬🇧 UK HIGHLIGHTS 🇬🇧

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- Research from Adobe shows that this Black Friday was the biggest single online shopping day of 2024 in the UK. Brits spent £1.12 billion online, up 7.2% and £75 million above the £1.04 splashed out on Black Friday 2023, as they sought to take advantage of the deep discounts on offer in the run up to Christmas and make their budgets stretch

- Online sales were up by 12% compared to 2023, with a significant year-on-year increase of 22%, according to the Guardian

- In-store dip: Physical stores saw a slight decline in visitors, with footfall down by 0.5% by 1 pm and a 2.5% slump overall, suggesting a shift towards online shopping

- Click and collect growth: Adobe reported that click and collect usage increased by 21.3% year-on-year, highlighting the growing popularity of this convenient shopping method

- London leads spending: London accounted for approximately 24.3% of all Black Friday spending in the UK, with an 8.3% increase in spending compared to last year

- Buy Now Pay Later (BNPL) services saw a 17.3% increase in usage, reflecting the growing trend of flexible payment options

- AI influence: Adobe also noted a surge in referrals from Generative AI, indicating the growing role of AI in shaping consumer choices

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🇺🇸 US HIGHLIGHTS 🇺🇸

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- E-commerce dominance: Mastercard reported a significant 14.6% increase in online retail sales, compared to a modest 0.7% rise in in-store sales

- Strategic shopping: US consumers are increasingly planning their Black Friday purchases, taking advantage of extended deals and promotions throughout the weekend and into Cyber Monday

- Top categories: Jewelry, electronics, and apparel were popular categories, with apparel performing particularly well online, likely driven by the arrival of cooler weather

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🌎 GLOBAL TRENDS 🌎

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- Shopify’s Success: Shopify reported over $5 billion in sales globally, a 22% year-on-year increase in Black Friday transactions, highlighting the platform’s growing role in e-commerce. Consumer spending surged at 12:01 PM EST on Black Friday with sales peaking at $4.6 Million sales per MINUTE

- Focus on Value: Consumers in both the UK and the US prioritised finding the best deals and discounts, making Black Friday a key period for savvy shoppers

- Extended Deals: Black Friday is no longer a single-day event, with deals and promotions often extending throughout the weekend and into Cyber Monday, creating a longer shopping period

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What are the trends you've been observing over BFCM?

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