UK shoppers have saved nearly £200bn during lockdown and now plan to make next Christmas one to remember, analysis suggests.
Future plc questioned 2,000 UK adults and found that 82% say they will be at least as engaged in Black Friday this year as in previous years, while 55% want to make Christmas their biggest celebration yet.
More than half (54%) of those taking part in the survey were Future readers, and the analysis suggests more than half of them (54%) will be shopping online this Black Friday, and feel most confident about online marketplaces, brand websites and online independent stores. Some 42% say that Black Friday shopping will be their main source of this year’s Christmas gifts.
Budgets are also set to increase, with more than 70% having the same amount or more to spend on Black Friday than last year, and 78% having more to spend at Christmas. Future calculates that the UK population has nearly £200bn (£198bn) in lockdown savings, and 82% of Future readers will spend this partially or fully on Christmas or Black Friday shopping, while 63% are planning DIY, painting and redecorations ahead of Christmas.
When it comes to shopping decisions, the study found the average research time for the UK population is 5.7 weeks before Christmas (around mid-November) and 4.8 weeks before Black Friday (in mid-October). Nearly half (48%) of Future’s audience looks forward to Christmas all year round, so they’re likely to start their preparations and research earlier than the average UK consumer; according to the findings, 16% of Future’s consumers have started or will start buying presents soon.
“Over half of consumers (55%) say they will make Christmas the biggest celebration yet and a huge majority (82%) are expected to put their savings towards Black Friday and Christmas,” says Zack Sullivan, chief revenue officer UK at Future plc.