The UK’s Black Friday shoppers plan to spend £197 each on average during the Sales weekend, according to the latest findings from PwC.
The forecasted average spend per customer for the promotional weekend, which starts on 24 November, is up 16% from £170 last year.
This amounts to more than £5bn in retail sales over the extended Black Friday period.
Regionally, London shoppers intend to spend an average of nearly £300 each this year, while shoppers in the East Midlands, East of England and Wales are expected to spend fewer than £150.
It is expected to draw in the younger generation of consumers in particular, with more than two-thirds (70%) of shoppers aged under 25 expressing their interest in the weekend’s Sales.
Just over half (51%) of survey respondents said they plan to shop during the Black Friday weekend. However, 34% said they were “not interested”, while a further 11% said they will intentionally avoid it.
Around 20% of Black Friday shoppers intend to spend on clothing, toys and homeware. However, technology and electricals are expected to see the majority of spending.
PwC consumer markets leader Lisa Hooker said: “The promotional weekend isn’t as vital for some sectors, such as fashion retailers, but undoubtedly still presents an opportunity for the whole UK retail industry.
“UK shoppers are increasingly willing to part with their money on Black Friday and we expect the fastest spending growth to come from younger shoppers, who are more likely to purchase on impulse. If retailers do their research and promote the right products at the right prices, they should once again see strong sales.”
She added that although PwC predicts another year of Black Friday sales growth, it may be “slightly more muted” given that the event takes place before pay day for many consumers.
Three-quarters of Black Friday spending will be done online or by mobile, with only a fifth (21%) of purchases predicted to be made in stores.
Only a fifth of Black Friday spending is expected to be on Christmas presents. The findings show 62% of shoppers plan to buy items for themselves.
Hooker said: “Black Friday is not yet threatening the Christmas shopping period, with our survey showing the majority of purchases made over the weekend will not be gifts.
“Therefore, the first few weeks of Christmas shopping in December will still be vital for retailers, who will need to carefully manage their stock availability, IT systems and delivery infrastructure to deal with both shopping periods.”
PwC surveyed more than 2,000 adults based in the UK.