Price increases were a major factor in the decision of consumers in the United Kingdom planning to spend less on Black Friday and Cyber Monday 2024 than in the previous year. One third of people spending less or not at all than 2023 said it was because prices have increased too much. This is likely linked to the second most common answer, that people needed to cut back to be able to afford essentials.
Reasons consumers planned to spend less than the previous year at November sales events in the United Kingdom in 2024
Consumers who said they would spend less compared to last year or to not shop at all in November sales events 2023
Supplementary notes
Respondents were asked whether they expect to spend more or less money on Black Friday or Cyber Monday in 2024 than they did in 2023. More than one answer was possible. * Total number of survey respondents in the UK including those who will not shop during major sales events.
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BCG. (November 14, 2024). Reasons consumers planned to spend less than the previous year at November sales events in the United Kingdom in 2024 [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1422792/uk-black-friday-spending-reduction-reasons/
BCG. "Reasons consumers planned to spend less than the previous year at November sales events in the United Kingdom in 2024." Chart. November 14, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1422792/uk-black-friday-spending-reduction-reasons/
BCG. (2024). Reasons consumers planned to spend less than the previous year at November sales events in the United Kingdom in 2024. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1422792/uk-black-friday-spending-reduction-reasons/
BCG. "Reasons Consumers Planned to Spend Less than The Previous Year at November Sales Events in The United Kingdom in 2024." Statista, Statista Inc., 14 Nov 2024, https://www.statista.com/statistics/1422792/uk-black-friday-spending-reduction-reasons/
BCG, Reasons consumers planned to spend less than the previous year at November sales events in the United Kingdom in 2024 Statista, https://www.statista.com/statistics/1422792/uk-black-friday-spending-reduction-reasons/ (last visited December 22, 2024)
Reasons consumers planned to spend less than the previous year at November sales events in the United Kingdom in 2024 [Graph], BCG, November 14, 2024. [Online]. Available: https://www.statista.com/statistics/1422792/uk-black-friday-spending-reduction-reasons/
