WGSN: Shoppers embrace Black Friday as more retailers take part

A significantly increased number of UK shoppers and retailers embraced the Black Friday and Cyber Weekend discounting bonanza this year, according to data released today by WGSN Barometer.

The trend, retail and consumer behaviour experts found that this year some 47% of all womenswear was discounted, compared to just 39.7% during the holiday season in 2016. The discounts were jumped on by consumers as womenswear out of stocks were up 3.6% year-on-year.

Next was this year’s most high-profile addition to the Black Friday discounting list (famous for its refusal to discount in-season it surprised the market by announcing that it would take part this year), although its approach was much more cautious than its peers.

WGSN Instock (its retail analytics tool) data showed that despite a 4.1 percentage point year-on-year jump in percent of stock marked down, Next still had under 10% of overall assortment on offer – a small fraction compared to its department store competitors House of Fraser and Debenhams with 78.6% and 77.7% respectively.

“What started in the US in the 1950s as a way to kick off the festive season has now become a cross-borders phenomenon, and there’s a lot of potential for the high street to make the most of the sales period," commented WGSN senior editor Nivindya Sharma.

"As the discounting landscape becomes ever more crowded, retailers must become savvier with their discounting strategies to cut through to overwhelmed shoppers and Black Friday rejectors," Sharma added.

WGSN Barometer, which tracks public perception of retailers, showed shoppers aged 16-34 have a much greater preference than older shoppers for shopping the Black Friday & Cyber Monday sales. Increasingly, fashion retailers were capitalising on this spend propensity, with many including Oasis, Karen Millen and Whistles offering blanket discounts on almost all products, the data showed.

“With Black Friday discounts starting earlier in the week and more retailers jumping on the bandwagon, shoppers are getting more demanding, and retailers will have to work harder to capture their attention. Offering a more curated Black Friday experience – through personalised gift lists, discounts on items saved in virtual shopping baskets, and tailored discount recommendations based on past purchases – will help retailers stand out in 2018," Sharma added.