A third of UK consumers are set to boycott Black Friday this year, according to research from Ello.
The study also found that 28 per cent of UK shoppers worry about the environmental impacts of shopping on Black Friday, prompting one in five to decline to make any purchases for this reason.
The survey of 2,000 UK consumers found that 54 per cent believe that Black Friday is a marketing ploy, whereas 21 per cent think its typically non-premium brands that offer deals.
Less than 24 per cent say they stay loyal to brands they shop at during the sales holiday throughout the rest of the year, indicating the event does little to solidify brand loyalty as many retailers would hope.
Of the number of shoppers who are planning to buy this Black Friday, 25 per cent plan to shop online as a result of ongoing pandemic concerns.
Amazon tops the chart of where UK consumers plan to purchase goods this Black Friday, followed by Argos and Tesco.
As prices are cut, 30 per cent of UK consumers say they hold off on the big purchases in the lead up to Black Friday, whilst 20 per cent admit the low prices often lead to them buying things they don’t actually need.
“Consumer budgets have tightened and with the cost of living continuing to rise thanks to higher inflation, Brits are being more money savvy than ever before,” Ello managing director Michael Kalli said.
“As we approach the festive season, consumers are taking the time to do their research on what to buy and where from, so it’s no surprise that many choose to hold off making those bigger purchases in the run up to Black Friday in hope of bagging a bargain.”
“However, many consumers are becoming wiser to so-called marketing ploys of this nature and are staying clear of Black Friday altogether.
With this in mind, it’s important for brands to take a step back to establish if the return on investment is actually worth it.
Rather than offering customers these annual price cuts, brands should be giving customers loyalty incentives all year round – not only does this encourage customers to keep coming back, but it also helps increase brand engagement.”