The Rise of Black Friday in the UK

The Black Friday sales phenomenon has become firmly entrenched in the UK retail calendar over the last decade. Every year, UK consumers eagerly await the opportunity to secure discounted goods from top retailers, often extending the event across an entire weekend or even the entire week leading up to the day after US 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: Latest Trends

Despite the ongoing economic backdrop, Black Friday continues to hold immense importance for retailers, particularly for technology and household goods.

Data from the 2024 Black Friday period (which took place on November 29th) highlights key trends:

• Technology & Durables Boost: Black Friday delivered a vital boost to the Technology and Durables sector, with sales value up 1.8% and volume up 7.7% year-on-year compared to 2023. This demonstrates consumers are holding out for discounts on big-ticket items (Source: GfK/NIQ).
• Online Spending: Online retail spending on Black Friday 2024 reached an estimated £1.12 billion, marking a strong single-day performance and showing a 7.2% increase year-over-year in online spend (Source: Adobe Digital Insights).
• Self-Care and Home Goods: Performance was strong in categories influenced by social media trends, such as personal care (e.g., LED face masks, electric massagers) and homewares (up 9% in value), indicating that shoppers are strategically investing in both self-care and home improvements (Source: GfK/NIQ).
• Consumer Intent: Polling indicated that consumers were increasingly interested in the Black Friday period, driven by the necessity to find bargains and manage the Cost of Living Crisis (Source: PwC, GlobalData).

Should Your Business Participate?

If you are a traditional retailer or run an online business, participating in Black Friday is essential for maintaining market share. The event has shifted from being a promotion to a non-negotiable part of the annual marketing cycle, as consumers are now conditioned to wait for the sales period.

It is crucial that any marketing campaign is meticulously planned and the deals offered are genuinely eye-catching to stand out from the competition.

Start Early!

Consumer interest in Black Friday deals begins to rise sharply in October. It’s crucial to start planning your marketing campaigns and promotions early to capture this initial interest and guide shoppers toward your deals.

CitCom can help!

If you would like to speak to someone about planning a high-impact Black Friday campaign or any other type of digital marketing strategy, 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 to find out more.