Uncover new insight from Clear Channel’s latest Retail Occasions series release: Black Friday. Get up to speed on changing consumer behaviours, follow where consumers are shopping, and how to optimise your Out of Home messaging and timing to best fit.
By Elizabeth Quach, Senior Research & Insight Manager
The start of the pre-Christmas shopping season, which this year falls on November 25th, has long been a bonanza for UK retailers. Black Friday is now the leading sales event in the calendar year, beating Boxing Day, Summer, Amazon Prime Day and Cyber Monday sales (GWI 2021). The retail occasion has essentially become engrained UK culture, with 1 in 2 participating in the event. The occasion accumulates a whopping £4.4bn in revenue. (increase by 19%pts YoY).
Powered by GlobalData Retail data, Clear Channel's Retail Occasions series uncovers changing consumer behaviours for the monumental retail event. Follow where consumers are shopping and how to optimise your messaging and timing to best fit. As half of the nation are on a hunt for the most irresistible deals, posters and billboards prove to be a unique channel to tempt, inform and target shoppers whilst on their journey.
Surge in retail footfall forecasted:
As spend increases, so does the surge in footfall. Consumers countdown to the day, so it is essential to prepare and excite shoppers. 8 in 10 expect to be offered deals and promotions from brands. Physical stores remain to be prominent destination of the shopper journey. Comparing to last year, in-store spend is up +3%pts. Consumers are eager to step out with their friends and begin to revel in the festive season early.
Consumers want slashed prices, not budget cuts:
Nearly 2 in 5 are looking forward to Black Friday promotions to make their money stretch further. Especially, this year, as we are treading an uncertain financial environment, consumers are particularly looking for ways to save on discounted purchases and to bring forward purchases they had intended for later. 1 in 3 are leveraging the occasion to save and purchase all their Christmas gifts early. Nearly 7 in 10 electrical intenders plan to purchase these items as gifts, and three quarters of those purchasing homewares agree delivery before Christmas was a key purchasing factor.
Planning your marketing strategy for Black Friday – right place, right moment, right channel
No doubt, when Black Friday frenzy is ramping up, brand promotions and communications will be firing at consumers. Drawing from our latest research, Control the Controllables, we have identified key strategy turning points for retailers when consumers are inundated with a plethora of choice and messaging.
With retail environments being a key shopping destination, Out of Home posters and billboards is a key influence in the shopping journey, exerting 20% more positive influence than any other shopping channel. Moreover, Out of Home’s unique strength permits brands to retain direct message control versus channels including online ads, personal shopping experiences, WOM or sales staff.
Planning with Out of Home during Black Friday delivers high impact, whilst maintaining high control. .
Source: GlobalData Black Friday 2021
Want to know more on Black Friday?
Visit our Retail Occasions hub for all the low-down, or get in touch with our team using the form below to find out how you can activate shoppers around Black Friday.
Stay tuned for more updates on other Retail Occasions. We’re already working on uncovering the latest insights for Christmas.
Visit the hub to access the latest data as it’s released.