The Rise of Black Friday in the UK

The Black Friday sales have become commonplace in the UK over the past 10 years or so. Each year UK consumers eagerly await the opportunity to help themselves to discounted goods from many of the UK’s top stores and online retailers.

In fact, due to the popularity of the event many retailers now offer discounts over the Black Friday weekend or indeed the entire week leading up to it. It’s no longer a single day event! However, some of the best discounts can still be found on the day after Thanksgiving.

The Origins of Black Friday

The term Black Friday originated in America and was first coined as early as 1869. However, originally it wasn’t associated with shopping but rather a financial crisis.

Two Wall Street bankers; Jim Fisk and Jay Gould came up with a scheme to get rich. They bought up a lot of gold, hoping to increase the wholesale price and make a huge profit. 

Unfortunately for Fisk and Gould on Friday 24 September, 1869 the US gold market crashed, bankrupting many of their clients as a result. The day then became known as Black Friday.

It was around 80 years later that the phrase became associated with the period following the US Thanksgiving holiday.  

During the 1950’s in Philadelphia the Friday after Thanksgiving was extremely busy with large amounts of tourists and shoppers descending on the city. The City’s Police department weren’t allowed to take any time off because of the crowds so the day was sarcastically known as Black Friday among police officers.

The term was disliked at first by shopkeepers in Philadelphia due to its negative connotations from the financial crash, however they soon adopted it and used it in relation to the Thanksgiving sales. It spread throughout the States and by the 80’s was widely used across the country. 

It wasn’t until 2010 that the Black Friday shopping phenomenon arrived in the UK. Unsurprisingly it was Amazon that introduced the Black Friday sales to this country and that first sale was so popular that customers complained that items sold out too quickly and the traffic volumes actually crashed the Amazon website. 

Fighting over TVs

The popularity of online Black Friday sales meant that it wasn’t too long before in-store events started to take place. It was Asda that had the first in-store event in 2013. Discounts of up to 70% meant that crowds of shoppers were queueing outside many Asda stores. Inevitably things turned ugly, with fighting in the stores leading to some consumers requiring hospital treatment for broken bones.

The success of Asda’s Black Friday, despite the brawling, quickly caught on and many other shops introduced in store and online Black Friday deals with 2018 seeing the average person spending £346 on the sale.

Black Friday in the UK Today

Black Friday has continued to grow in popularity in the UK. In 2023, UK consumers spent an estimated £13.3 billion during the Black Friday period, a 7.3% increase year-on-year. This surge in spending was likely influenced by the cost of living crisis, with over half of Black Friday shoppers indicating they relied more heavily on promotions due to financial concerns.

The Impact of the Cost of Living Crisis

While some shoppers may have cut back due to tighter budgets, the cost of living crisis appears to have driven greater participation in Black Friday, particularly among higher-income households seeking savings.

Black Friday 2023: The Numbers

• Total Spend: Black Friday 2023 generated an estimated £13.3 billion in sales.
• In-Store Growth: While Black Friday remains predominantly an online event, in-store purchases saw a rise in 2023, with 44% of consumers making Black Friday purchases in physical stores.
• Repeat Engagement: A positive Black Friday experience encourages future shopping, with 84% of consumers stating they would be more likely to shop again with a retailer after a good Black Friday experience.

Should Your Business Participate?

If you are a traditional retailer or own an online business there is a benefit to offering your customers special deals as part of a Black Friday sales event.

Due to the popularity of the event, it is essential that any marketing campaign is planned meticulously and any deals offered are really eye-catching.

Start Early!

Consumer interest in Black Friday deals begins to rise in October, so it’s crucial to start planning your marketing campaigns and promotions early to capture this early bird interest.

Citizen can help!

If you would like to speak to someone about planning a Black Friday campaign or any other type of digital marketing campaign, then we are always happy to help. We can provide the skills and advice you need to get in front of your target audience and help generate sales and leads. Get in touch today to find out more.