By Deann Evans, Managing Director, EMEA, Shopify
“The success of Black Friday, Cyber Monday (BFCM) among our UK merchants suggests consumer confidence is roaring back just in time for the upcoming holiday season. In fact, the number of UK shoppers who purchased from Shopify merchants over the BFCM weekend alone grew by 22%, compared to 2022 — helping to achieve $9.3 billion in sales globally from our merchants.
“But from our data, consumer confidence has remained but with more intentionality than in recent years, as Brits have tactically used the past few months to save in preparation for spending during the holiday season. What’s more, over half (53%) of UK shoppers have been putting aside more money each month than they have in previous years; so beyond BFCM, we see a clear intention for consumers to spend over the festive period.
“However, they won’t spend willingly with the shopping strategy for many being to capitalise on sales and promotions with a large proportion (69%) of UK shoppers highlighting they are more likely to shop during upcoming peak sales moments to get more for their money.
“Regarding what consumers are spending their money their money on, our data shows the top five product categories by orders over the BFCM weekend were Apparel & Accessories, Health & Beauty, Home & Garden, Arts & Entertainment, and Food & Beverage — we expect this to be a similar picture for Christmas.
“When it comes to location, brick-and-mortar shopping is set for a strong holiday season, as in-store spending surged 28% in the UK, compared to last year, based on POS sales made by Shopify merchants. High street stores are also an increasingly important touchpoint for shoppers, with nine in ten (89%) being more or just as likely to discover products by browsing in a shop than they were a year ago. Retailers should not underestimate the importance of their in-store experience at such a crucial time for business.”
