UK consumers likely to spend £13.41m per minute over cyber weekend

As UK shoppers prepare for one of the biggest sales dates in the retail calendar, new research from VoucherCodes and the Centre for Retail Research reveals that UK consumers are predicted to spend £13.41m per minute over the Cyber Weekend this year. This equates to £8.29bn in online and offline sales from Black Friday (23rd November) through to Cyber Monday (26th November), a 6 per cent uplift on the £7.78bn spent in 2017.

Cyber Monday spending spree

The Cyber Weekend begins on Black Friday, with shoppers expected to spend £2.44bn. Sales are set to continue to increase over the weekend, reaching fever pitch on Cyber Monday as consumers spend almost £2.96bn on the final day of the savings weekend.

Traditional high-street retailers are set to receive a welcome £4.80bn in sales over the four-days, up 3 per cent on the £4.65bn spent last year, as shoppers look to secure the best bargains in-store. In addition to the projected increase in in-store sales, online shopping tills are also set to be ringing, with people in the UK planning to spend £3.48bn online, up 11 per cent on the £3.13bn spent last year.

Expected online/offline spend for 2018 Black Friday Weekend**

 

Black Friday   

Sat/Sun    

Cyber Monday   

2018 Total    

2017 Total   

UK online      

£1.04bn

£1.03bn

£1.41bn

£3.48bn

£3.13bn

UK offline

£1.41bn

£1.85bn

£1.55bn

£4.80bn

£4.65bn

Total

£2.44bn

£2.88bn

£2.96bn

£8.29bn

£7.78bn

Figures reveal that spending over the Cyber Weekend has grown significantly over the last five years, with online and offline spend up 66 per cent and 68 per cent respectively since 2013. In total, spending online and on the high street over those four days alone now accounts for 24 per cent of festive sales, compared to 14 per cent in 2013.

Jimmy New, director of marketing at VoucherCode commented:“Almost a quarter of Christmas sales take place over the Cyber Weekend. Where the focus used to be on Black Friday, retailers are increasingly launching flash sales over the long weekend, as well as offering deals in the week leading up to it. This leaves retailers with a wider sales window to capture extra sales from new and existing customers, providing a welcome boost to the UK economy.”

A four-day bargain weekend

Last year the four-day shopping weekend was one of the biggest for VoucherCodes customers, who saved more than £1.28m collectively between Black Friday and Cyber Monday 2017. With electronics, fashion and homeware brands topping the list of purchases, the biggest single saving made by a VoucherCodes.co.uk customer was £1,096. VoucherCodes added 17,000 offers to the site during Black Friday 2017 alone.

Britain’s bargain hunting habits

A fifth (20 per cent) of British shoppers will do their research and choose the items they want to purchase beforehand, while one in 10 are planning to sign up to retailer newsletters so they are alerted when their festive sales begin.

Clothing (24 per cent), personal electronics (23 per cent) and home electronics (23 per cent) are all topping people’s shopping lists this year with over half (52 per cent) planning to pick up bargains online. Those looking to find deals on the day will dig into their savings (34 per cent) or use a credit card (20 per cent) to purchase items, whilst 12 per cent will use money they’ve set aside especially for sales shopping.

The UK’s Top 10 Cyber Weekend shopping list:

  1. Clothing, footwear and accessories – 24%
  2. Personal electronics (e.g. smartphones, tablets) – 23%
  3. Home electronics (e.g. TVs, speakers) – 23%
  4. DVDs, computer games, books – 16%
  5. Toys – 15%
  6. Cosmetics and perfume – 15%
  7. Homewares – 10%
  8. White goods (refrigerators, washing machines etc.) – 8%
  9. Food – 8%
  10. Alcoholic drinks – 7%