VoucherCodes: Cyber Monday Sales To Hit £3.33bn

• £3.67m to be spent every minute today
• Sales are down a marginal 0.5% YoY as spend shifts earlier
• Offline sales to rise 4.6% to £1.88bn, but online sales to fall -6.3% to £1.45bn

Today shoppers are predicted to spend a whopping £3.33bn online and in-store as they hunt down the last Black Friday deals. 

The Shopping for Christmas 2024: The Black Friday Sales Report by VoucherCodes.co.uk reveals consumers are forecast to spend £3.67 million each minute today, stocking up on Christmas presents, electricals and the latest fashion. That’s equivalent to £231.2m every hour. 

Whilst sales are down a marginal 0.5% YoY from the £3.34bn spent in 2023, this decline is caused by a spend shifting to earlier in the week as retailers are launching sales earlier and Black Friday falls later than usual. 

Breaking Cyber Monday sales down further, £1.88bn will be spent in-store as shoppers brave the high street for the best last-minute deals. With more people shopping in-person this year, brick and mortar stores can expect a healthy 4.6% boost in sales versus the £1.80bn spent last year.

On the other hand, online retailers are set to see sales fall by 6.3% YoY, totalling £1.45bn over Cyber Monday in 2024 compared to £1.55bn last year.

Michael Brandy, Senior Commercial Director at VoucherCodes.co.uk, comments: “Whilst Cyber Monday sales will be a little more modest for online retailers, the high street can look forward to a busy day of spending as shoppers, and Gen Z in particular, scout out the best savings. 

"With Cyber Monday falling just three weeks before Christmas, retailers have a prime opportunity to capture consumers’ Christmas shopping budgets and build customer loyalty, helping to drive repeat visits throughout the festive season."

Source : VoucherCodes.co.uk

Image : shutterstock / amedeoemaja / 758476633

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