Have consumers already bought what they need when we were forced to work, entertain and cook at home at the start of this year? Or is Black Friday going to be bigger than ever, with people splashing out the money they've saved from cancelled holidays and zero commuting?
Usually at this point in the year, the expectations of the upcoming months are full of optimism and planning. However, 2020 has not been a usual year.
With the biggest shopping event of the year just around the corner, how do we think COVID-19 is going to influence Black Friday in 2020?
The originally American event always falls the Friday after Thanksgiving, which this year will be Friday 27th November.
This date is particularly pertinent as it falls within the new lockdown for England, which means all non-essential stores will be shut over the Black Friday period.
With non-essential stores closing, retail had no choice but to switch to fully online. While the first few weeks were a logistical challenge, for most consumers the transition was seamless.
Unlike our European neighbours, UK consumers did not let a lockdown halt their spending. In fact, we continued to buy at an unprecedented rate within the Tech and Durables market, with 5.4% growth for the year to date so far (week 1 – week 39).
UK Tech and Durables market increased +5.4% for the year to date, weeks 1 – 39.