PwC: Black Friday loses sparkle in Scotland as spending tightens

PwC: Black Friday loses sparkle in Scotland as spending tightens

Scottish consumers have begun to increasingly display a diminishing interest the Black Friday sales, with a mere 35% expressing intent to participate in 2023, signalling a significant drop from the previous year’s national interest of 61% to 44%.

This aligns with PwC UK’s findings, revealing a downturn in Black Friday enthusiasm across the UK, with anticipated spending plummeting from £7.1 billion in 2022 to an estimated £5.6bn in 2023.

The Big Four firm reveals appetite for the pre-Christmas shopping event north of the border is below the UK average, with just 13% saying they will ‘definitely buy’ and just over one fifth (22%) saying they ‘may buy’.

Of those surveyed in Scotland, more than one third (37%) said they were ‘not interested’ in Black Friday, with 14% vowing to completely avoid bargain-hunting. Another 14% said that, despite buying previously, they had no plans to do so this year.

Those planning purchases in Scotland are most likely to do so online, with 77% intimating that they will opt for online delivery – higher than the UK average of 68%. Whilst only 6% say they plan to use click and collect options, almost one fifth of shoppers (18%) say they will do their Black Friday shopping in-store.

PwC: Black Friday loses sparkle in Scotland as spending tightens

Susannah Simpson

Susannah Simpson, partner at PwC Scotland, said: “Just a few weeks ago, our Autumn Consumer Sentiment survey revealed that almost a third of Scots had plans to cut back on festive spending – and it seems this even applies to bargain-hunting for Black Friday.

“The decreased interest in the annual shopping event north of the border could be indicative of the fact that many people told us they planned to start Christmas shopping even earlier than usual – meaning they’re not holding off for Black Friday offers to bolster their festive haul.

“Rising costs in other areas are still impacting households, with consumers opting for a more planned and methodical approach to spending.

“And whilst Scots are indicating that they’ll very much be taking advantage of the convenience of online shopping and home delivery, the fact that one fifth of shoppers still want the in-store experience for Black Friday should provide a welcome pre-Christmas boost to retailers.”

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