Klarna reveals the shopping categories with the most money spent for Black Friday 2023
Black Friday has arrived and millions of Britons are set to spend, spend, spend while the deals and discounts last. The major shopping event usually sees retailers looking to attract shoppers keen to do their Christmas shopping ahead of time and who want the chance to save some money while ticking off their lists.
As the event has grown bigger over the years, many retailers launch their sales earlier in November and sometimes as early as the end of October, even though Black Friday only falls on the last Friday of November.
It remains a huge chance for shoppers to grab a bargain and retailers to increase the volume of their sales ahead of the festive season. According to new data rom Klarna, more than half (63%) of UK shoppers said they are definitely or considering shopping on Black Friday.
The vast majority (89%) of Gen Z and Millennial (81%) shoppers plan to take part in the sales season. 60% of shoppers also said they were waiting for Black Friday to make large purchases, as traditionally, this is the time to get the best bargains on electronics and other high-value items.
However, the older generation appears less keen on the sales, with 64% planning to sit it out completely. Klarna posits that this might be due to traditional shopping preferences or a lack of interest in the commercial buzz.
The top Black Friday shopping categories that people are planning to spend the most in are:
Electronics (46%)
Clothing and shoes (38%)
Beauty products (26%)
Children’s items and home goods (24%)
Erotic products (13%)
However, Klarna’s research has also revealed how rising prices due to inflation and the cost of living crisis is forcing shoppers to rethink how they spend their money this year - with many planning to use “smart shopping tactics”.
This includes only shopping during the sales (49%), signing up for and using loyalty programmes (44%), using coupons (39%), and utilising price comparison tools (31%) to ensure they are getting the best prices.
The data revealed that 65% of shoppers are reducing how much they spend on non-essential items as the cost of everyday essentials reached new heights this past year. More than half (55%) of all shoppers are also always looking for budget-friendly items, an increase of 16% compared to Klarna’s 2022 survey.
In addition, 52% of all shoppers are choosing to buy fewer gifts than they would have in past years. Among those who are buying gifts for others, 52% are considering gifting pre-loved items, either from their own belongings or buying second-hand.
Read more about Black Friday:
How to avoid 'Black Friday burnout' as 28 million Brits face stress over shopping (Yahoo Life UK, 4-min read)
Flying start for Black Friday as early purchases beat last two years, and London footfall set to rise (Evening Standard, 2-min read)
Just 2% of Black Friday deals were cheapest on the day last year – Which? (PA Media, 5-min read)
