British consumers are showing caution as this year's shopping season begins amid an uncertain economic outlook and persistently high living costs.
Sales promotions for the busiest shopping day of the year have once again sparked a consumption craze in the UK. However, data showed that shoppers were somewhat less willing to spend this Black Friday.
Foot traffic across all UK shopping destinations was down 7.2 percent compared with the equivalent days last year, according to the monitoring company MRI Software. Some stores even saw fewer visitors than on a typical weekend, reflecting the current reality of weak consumer confidence in the country.
"It's definitely got more expensive, so probably not going to spend as much. I usually do shop online now. I just prefer it because there's a lot more variety," said a local resident.
Meanwhile, consumers have become more discerning about discounts. A UK consumer watchdog tracked the prices of 175 popular items and found that most of their Black Friday prices were not the lowest seen in the past year.
"Everybody is more conservative in terms of spending money. And a lot of the websites, like Amazon for example, you'll go on there and they will say it's a discount, but the discount is not so real. It's a real discount obviously -- the week before was more expensive, but it's normally the older products or products are due to be discounted anyway. They wait for Black Friday, and then they do the discount, and then they pretend like it's such a good deal," a resident said. Black Friday traditionally marks the start of the month-long Christmas shopping season, providing an opportunity for consumers to purchase essentials or prepare gifts. However, a survey by banking service provider Nationwide has predicted that 38 percent of British consumers do not plan to buy anything in the sales this year as they curb spending.
Last week, Chancellor of the Exchequer Rachel Reeves unveiled the 2025 Budget, which imposes the highest tax burden in the country's history in an attempt to steer the UK out of economic stagnation through stability, investment, and reform. This has raised concerns among British citizens about the increasing pressure on household incomes amid rising living costs.
UK consumers spend less on Black Friday amid uncertain economic outlook
UK consumers spend less on Black Friday amid uncertain economic outlook
