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Black Friday ‘discount fatigue’?

This year’s Black Friday event has kicked off with offers available sites including Lakeland, AO, Curry’s and Harts of Stur. The official date for Black Friday is November 29.

Lakeland began its Black Friday offers from the start of November (including EasiYo, Nespresso Magjimix, Remoska, KitchenAid and SodaStream). AO’s ‘Biggest Ever Black Friday’ has already launched with a page of its ‘hottest deals’ including SDAs from Melitta, Bosch and De’Longhi. Harts of Stur’searly Black Friday offers include products from Jura, KitchenAid, Stellar and Circulon.

Above: Lakeland’s Black Friday deals are running over November.
Above: Lakeland’s Black Friday deals are running over November.

Curry’s is also promoting a range of early deals (including KitchenAid and Dyson), promising that consumers will be refunded any difference should prices drop further on Black Friday. While encouraging early sales, the electrical retailer has also provided consumers with a ‘survival guide’ for Black Friday itself, with tips on when to avoid the online rush and ‘excuses’ such as telling your boss: “I’m just doing some research on consumer behaviour.”

However, a new survey says consumers plan to spend 12% less that last year: an average of £288 over Black Friday and Cyber Monday. The figures are from a survey of 1,700 UK consumers by management consultancy Oliver Wyman.

The survey also reveals that most shoppers (71%) will be spending on planned purchases, and less than a third (29%) will be willing buy spontaneously.

The vast majority (89%) of UK consumers are planning to shop online over Black Friday and Cyber Monday. Only a small minority (11%) plan to exclusively shop in stores.

Duncan Brewer, retail and consumer goods partner, Oliver Wyman says that consumers are: “likely to be suffering from promotional fatigue due to continuous discounts and offers.” He elaborates: “Over recent months, many retailers have increased their promotional programmes to maximise revenues and hold on to ever less loyal customers. In particular, shoppers are choosing to shop with online-only businesses where they can easily access price and product comparisons.”

Duncan continues: “Secondly, there has been a decrease in consumer confidence due to factors such as Brexit. In fact, 30% of people surveyed said they have been stockpiling before the Brexit deadline, in an attempt to beat the potential price increases, regardless of discounts they might be offered over Black Friday and Cyber Monday.”

 

Top: Curry’s Black Friday survival guide provides some light-hearted advice for bargain hungry consumers,

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