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What Black Friday Deals Will Look Like in 2023
Black Friday, a long standing American tradition, has been adopted by the UK over the past decade. In recent years, it has become a cornerstone of the British retail calendar. It has solidified its status as a pivotal event on the retail calendar, offering a thrilling opportunity for consumers to secure deals and for retailers to boost sales. Each year, anticipation builds, and the event seems to grow in magnitude, with discounts spanning technology, fashion, homeware, and more. This year is no exception, as both online and physical retailers are preparing for a surge in shoppers eager for bargains. The day marks a high point for retail activity, igniting the festive shopping season with a sense of excitement and urgency.
However, Black Friday 2023 will take place against an unaccustomed backdrop; the UK is currently navigating through a harsh cost of living crisis, with inflation rates soaring to unprecedented levels.
Tightened Wallets and Transformed Priorities
Retailers in the UK are bracing for a Black Friday that looks different from previous years. High energy bills, food prices and a broad spectrum of inflationary pressures are testing the resilience of British consumers. Amid these challenging times, a day typically associated with consumerism on a grand scale might appear to be ill-timed.
However, retailers are preparing to address these economic realities, shifting their approach in an effort to meet the public where they are. Amid the crunch, experts predict that consumers will be more selective and discerning with their purchases, seeking value not only in terms of price but also long-term utility and experience.
A Shift to Experiential Gifting
One significant trend that's emerging amid the cost of living crisis is a shift towards 'experiential gifting'. Instead of splurging on physical goods, people are seeking meaningful, memorable experiences, which often prove to be more budget-friendly and personally fulfilling. Companies like us here at WonderDays are building on this trend, offering an array of bespoke experiences tailored to varying interests and budgets.
From gin tasting workshops to hot air balloon rides, pottery classes to personalised city tours, the world of experience days is a vast and enticing one. These options provide an opportunity for consumers to gift something more than a mere object – they're gifting memories.
Moreover, these experiences tend to be environmentally friendly compared to many physical products, resonating with an increasingly eco-conscious public.
Black Friday 2023: A New Chapter?
The prevailing climate of austerity means that Black Friday 2023 will likely write a new chapter in the retail annals. As consumers reel under the weight of the cost of living crisis, spending behaviours are set to change.
As the nation prepares for Black Friday amidst challenging times, it will be fascinating to see how consumers and businesses adapt. In an era of tightened belts and rising inflation, the day may just morph into a symbol of a newfound frugality and a preference for experiences over things, redefining our idea of value.
While the road ahead might seem daunting, the current economic landscape also provides a unique opportunity to reshape Black Friday – and consumer behaviour – in a manner that is not only more sustainable but also more focused on experiences and memories, the things that truly make life richer.
So what are the Black Friday 2023 Deals, Predictions and Expectations for the UK Market?
1. A Bigger Push for Online Shopping
Online shopping has been on a steady rise for years, with recent global events only amplifying this trend. The convenience, speed, and ever-expanding range of products available at the click of a button make e-commerce increasingly appealing. This year, we predict that Black Friday in the UK will witness an even bigger push towards online shopping. Retailers are expected to roll out exclusive online deals and incentives such as free shipping, bundle deals, and early access for newsletter subscribers, further encouraging customers to shop from the comfort of their homes.
2. Extended Sales Period
Gone are the days when Black Friday was confined to a single day of the year. In recent years, we've seen the phenomenon expand into a weekend-long, and sometimes even a week-long, event with the addition of Cyber Monday and pre-Black Friday sales. This year, anticipate that the sales period will be extended even further. Many retailers are expected to start offering discounts earlier in November, turning Black Friday into a month-long shopping extravaganza.
3. Green Friday Initiatives
Environmental concerns are increasingly influencing consumer and business behaviour. In response to growing demands for sustainable practices, more companies are expected to launch 'Green Friday' initiatives this year. These could include a focus on eco-friendly products, the promotion of second-hand goods, carbon-neutral shipping options, and donations to environmental causes. It's an opportunity for companies to demonstrate their commitment to sustainability and for consumers to make more conscious purchasing decisions.
4. Enhanced Tech Deals
With the continuous development in the tech world, Black Friday has become a key date for tech enthusiasts looking for the best deals on the latest gadgets. In the UK, we predict that there will be particularly impressive deals on smartphones, gaming consoles, smart home devices, and wearables this year. Major tech retailers are likely to offer considerable discounts, with consumers eager to get their hands on the latest tech at reduced prices.
5. More Personalised Deals
Advancements in artificial intelligence and data analytics have enabled businesses to understand their customers better. As a result, this year, we're expecting more personalised deals. This means more bespoke emails and targeted advertisements featuring products based on your past purchases, browsing behaviour, and preferences.
6. Increased Use of Mobile Apps for Shopping
Mobile shopping is continually growing in popularity. Retailers are developing increasingly sophisticated apps to facilitate a seamless shopping experience. Expect to see an increased push towards app-exclusive deals, early access to sales for app users, and mobile-only checkout processes to entice consumers to download and shop through their platforms.
Black Friday 2023 deals are set to be bigger, more digital and more personalised than ever before. With extended sales periods, a larger focus on sustainability, and an ever-increasing shift towards online shopping, it's an exciting time for both consumers and retailers.