// Shoppers are predicted to give the high street an unexpected boost as they go out in search of bargains on Black Friday
// Diane Wehrle, Springboard: “Shoppers will make the most of available discounts to purchase Christmas gifts as they endeavour to outpace inflation”
Black Friday Weekend spending in the UK is set to hit £8.71bn this year, as consumers hit up discounts ahead of Christmas amid the cost-of-living crisis.
The VoucherCodes.co.uk Shopping for Christmas 2022: Black Friday Weekend report forecasts a 0.8% year-on-year increase in retail spend over Black Friday Weekend, from £8.64bn in 2021.
With several retailers set to extend their Black Friday promotions to a two-week period, the report forecasts shoppers will spend a total of £22.62bn across Black Friday Fortnight (22nd November – 5th December), a 2.1% (£463m) increase on the same period in 2021.
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The report credits this rise in spending to consumers taking advantage of the deals and discounts on offer over the Black Friday period to stock up on Christmas essentials.
Consumers are also set to begin Christmas shopping earlier to spread the cost of Christmas, spending more than in previous years during the Black Friday period.
Despite a boost over Black Friday weekend, experts forecast a 3% dip in consumer spending this Christmas overall due to the cost-of-living crisis, which has been further compounded this week as a result of the Autumn Statement squeezing household budgets further still.
Meanwhile, Springboard predicts that Black Friday will boost high street numbers by 15.7% on last week, and 13.2% on last year.
The analysis company also forecasted that footfall this Black Friday will be nearly 13% higher than in 2021.
Springboard marketing and insights director Diane Wehrle said: “Shoppers will make the most of available discounts to purchase Christmas gifts as they endeavour to outpace inflation.”
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