LONDON: Nearly three-quarters of UK consumers have heard of Black Friday, the nickname given to the Friday after Thanksgiving when retailers cut their prices and offer promotions, according to a study from eDigitalResearch.
This year’s Black Friday will take place on November 28.
This year, more UK consumers will join in the sales extravaganza, which made its way over the Atlantic in 2010 thanks to Amazon, according to eDigitalResearch. Last year, Walmart’s Asda led the charge in the UK.
Research from eDigitalResearch and Iorma, the International Omni Retailing Markets Association, found that 72% of UK consumers have heard of the term. Fewer than half (45%) of consumers have heard of Cyber Monday, which falls on December 1 this year and is the day online retailers typically experience a surge in sales.
Aside from Amazon, which is already gearing up online for Black Friday promising "seven days, thousands of deals," an increasing number of brands are latching on to the gimmick, including John Lewis and Shop Direct, which both took part last year.
Yet according to research, 30% of consumers are planning to make most of their Christmas purchases on or around Cyber Monday.
The research, which was gleaned from quizzing a sample of 1,000 UK consumers, also found that 22% of British consumers had bought something on Back Friday in the past.
When asked if retail promotions influence their online-shopping behavior, 35% of respondents said they had been encouraged to buy items because of deals.
"Up until a few years ago, very few of us had even heard of the term ‘Black Friday.’ Now, almost three-quarters of UK consumers know what the term is, although there is still understandably confusion for some, with many actively anticipating the day to arrive," said Chris Russell, eDigitalResearch’s joint chief executive and Iorma board adviser. "The challenge for retailers will be to capitalize on the opportunity as more and more shoppers look to grab a bargain.
This story originally appeared on the website of Marketing.