UK shoppers shook off their high-price weariness and leaned into the annual shopping festival including Black Friday and Cyber Monday, driving online sales 7 per cent higher than the same period a year ago, according to eCommerce data from Signifyd.
Although overall this is welcome growth there were some signs of shopper fatigue as Cyber Monday recorded a 4 per cent drop. This was driven by a precipitous drop in order count which was down 10 per cent on Cyber Monday.
Black Friday sales soared 15 per cent higher than a year ago powered by more shoppers buying more items, more often, the commerce protection provider said. Specifically, the Black Friday numbers in the UK break down this way:
- 7 per cent more consumers shopped at merchants on Signifyd’s Commerce Network on Black Friday compared to a year ago
- They placed 16 per cent more orders than last year
- They checked out with 5 per cent more items per order in their digital shopping carts than on Black Friday 2023
- The average order value was 1 per cent lower than a year ago
Taken together, the Black Friday numbers show that consumers conducting their holiday shopping continued to trade down — or buy more products at a lower price point, allowing them to buy more items but at a lower overall cost.
The trend was reversed come Cyber Monday as shoppers lost interest and had already purchased what they needed.
- 11 per cent less consumers shopped at merchants on Signifyd’s Commerce Network on Cyber Monday compared to a year ago
- They placed 10 per cent less orders than last year
- They checked out with 17 per cent less items per order in their digital shopping carts than on Cyber Monday 2023
- The average order value was 7 per cent higher than a year ago
The figures for both Black Friday and Cyber Monday underscore the importance of Black Friday in the minds of shoppers.
As is always the case, some retail categories had a better Black Friday than others. While sales of outdoor and leisure items rocketed up by 53 per cent over Black Friday 2023, luxury goods tumbled 31 per cent compared to last year.
Bargain-hunting shoppers did not have as much luck as they did a year ago, according to Signifyd data. Only 13 per cent of orders were accompanied by a discount code during Black Friday 2024, compared to 19 per cent of orders a year ago. The drop could be an indication that merchants are finding they’ve reached their limit with the discounts they can offer while still preserving decent profit margins.
The size of available discounts did grow, however. The average discount this year during Black Friday reached 15.2 per cent, up from 11.2 per cent in 2023.
As for killer deals during the holiday season so far, Signifyd data showed that 25 per cent of goods purchased were at their lowest price of the year at some point between November 1, and Cyber Monday. Another 22 per cent of goods matched their lowest price of the year during that period.