Shoppers to snub Black Friday in Christmas cutback
Most Scots will reduce the amount they spend on Christmas presents and celebrations this year but will snub Black Friday and other sales events, according to new research.
Two-thirds (64%) of Scottish adults said they will cut back this year, either by switching to cheaper brands or by cutting off purchases of some products altogether.
Nearly a third of Scottish adults intend to do their Christmas shopping early this year in a bid to save money.
More than half (58%) of adults in Scotland aren’t planning to take advantage of this year’s big discount moments such as Black Friday, Cyber Monday (61%), or Boxing Day sales (65%) compared to last year.
According to technology and consulting group Accenture, a third (36%) of customers are put off brands that engage in shrinkflation (reducing the size of products sold at the same price).
A third (34%) are also cutting back on eating out, food and drink at home (22%), while nearly half (48%) are planning to spend less on presents.
Scottish consumers still prefer to shop in store (64%), with 58% citing ‘trying and seeing’ products as their primary driver, while 34% enjoy browsing for inspiration.
Stuart Chalmers, UK retail industry lead and joint managing director, Accenture Scotland, said: “Surprisingly, whilst shoppers will be looking to save where they can, it seems like the big discount days and festive sales won’t help to drive a spike in winter sales.”
For 62% of respondents, every day bills remain their biggest financial priority for 2024, though many are still keen to invest in a few luxuries. Nearly a third (28%) of the respondents plan to spend on home improvements, whilst a further 33% will be saving up for a holiday.