Black Friday, once the highlight of the shopping season, seems to have lost its sparkle, as indicated by a recent report from ParcelHero. The report suggests that this year’s Black Friday event may experience a slowdown in both online and physical store sales, marking a shift from the event’s former glory days.
ParcelHero attributes this decline in Black Friday’s appeal to various factors, such as diminished consumer confidence and an oversaturation of mediocre online deals that have left shoppers feeling worn out and skeptical. What was once an eagerly awaited shopping extravaganza has now turned into a lackluster month of clearance sales, with Black Friday failing to capture the attention it once did.
David Jinks MILT, Head of Consumer Research at ParcelHero, notes the evolution of Black Friday since its introduction to the UK in 2010. From causing chaos in physical stores to gaining traction online, Black Friday has broken spending records year after year. However, ParcelHero’s analysis hints that this trend may see a reversal in 2019.
While last year’s Black Friday amassed a staggering £2.4 billion in sales, with online purchases contributing £1.4 billion, the growth in online sales fell short of previous years. With consumers questioning the authenticity of the deals on offer, ParcelHero predicts a waning interest in Black Friday this year, potentially resulting in stagnant overall sales for the first time in the event’s history.
The skepticism surrounding Black Friday deals is not limited to ParcelHero’s findings, as consumer group Which? has also raised concerns about the validity of many offers. Their analysis revealed that most deals were misleading, with only a fraction being genuine discounts. Furthermore, the trend of retailers launching Black Friday deals earlier in November has added to consumer fatigue, diluting the impact of the event.
In essence, the future of Black Friday remains uncertain amid declining consumer interest and mounting skepticism towards deals. As shoppers grow tired of the barrage of sales and promotions in November, retailers may need to rethink their strategies to reinvigorate the once-thriving shopping event.
For more information on Black Friday trends and consumer behavior, you can visit BBC News and CNBC.
