2024 Black Friday’s Growth vs. Christmas Caution

Black Friday 2024 emerged as the most significant online shopping day of the year in the UK. Consumers spent £1.12 billion online, marking a 7.2% increase from £1.04 billion in 2023. This uptick indicates that, despite economic challenges, shoppers were eager to capitalize on discounts to maximize their budgets.

Mobile shopping also saw a rise, with £623.9 million spent via mobile devices on Black Friday, representing a 9.8% growth from the previous year and accounting for 55.9% of total online spend.

In contrast to the robust Black Friday performance, the overall retail sector experienced modest growth during the Christmas period. The British Retail Consortium (BRC) reported a mere 0.4% increase in sales during the “golden quarter” compared to 2023, reflecting cautious consumer spending influenced by economic challenges and weakened confidence.

Grocery sales provided a slight uplift, with a 2.1% year-on-year increase over the four weeks ending December 29, 2024. Notably, Marks & Spencer’s food and drink sales grew by 8.7%, and online supermarket Ocado led with a 9.6% rise.

While some retailers like Tesco, Sainsbury’s, and Lidl reported sales growths of 5.0%, 3.5%, and 6.6% respectively during the 12 weeks ending December 29, 2024, others faced challenges. Asda, for instance, saw a decline in sales by 5.8%.

The 2024 holiday season highlighted the dynamic nature of UK consumer behavior, with a strong preference for online shopping during discount events like Black Friday, contrasted by more restrained spending during the Christmas period. Retailers navigating this landscape must adapt to these evolving preferences, balancing online and offline strategies to meet consumer demand effectively.

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