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 2023 than in the previous year. One third of people spending less or not at all than 2022 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 2023
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Share of consumers
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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 2023 than they did in 2022.
More than one answer was possible.
The survey count is for total survey respondents.
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BCG. (November 9, 2023). Reasons consumers planned to spend less than the previous year at November sales events in the United Kingdom in 2023 [Graph]. In Statista. Retrieved September 07, 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 2023." Chart. November 9, 2023. Statista. Accessed September 07, 2024. https://www.statista.com/statistics/1422792/uk-black-friday-spending-reduction-reasons/
BCG. (2023). Reasons consumers planned to spend less than the previous year at November sales events in the United Kingdom in 2023. Statista. Statista Inc.. Accessed: September 07, 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 2023." Statista, Statista Inc., 9 Nov 2023, 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 2023 Statista, https://www.statista.com/statistics/1422792/uk-black-friday-spending-reduction-reasons/ (last visited September 07, 2024)
Reasons consumers planned to spend less than the previous year at November sales events in the United Kingdom in 2023 [Graph], BCG, November 9, 2023. [Online]. Available: https://www.statista.com/statistics/1422792/uk-black-friday-spending-reduction-reasons/
