Consumers look set to hunt of Black Friday deals with the sale period potentially hindering Christmas and January spending.
According to new research complied by The Market Creative, the survey found that 62% of consumers plan to take advantage of Black Friday savings for Christmas gifts, indicating that 26% said that they would spend less in December.
The impact on spending is likely to run into early 2017 as 28% of shoppers said Black Friday had made them less interested in the January sales.
Black Friday has also changed the Christmas shopping habits of younger shoppers, but the trend was less apparent among older age groups.
Of the 18-24 year olds, 83% plan to take advantage of Black Friday deals and 86% will buy Christmas gifts. The older the shopper, the less likely they are to participate in Black Friday. At the other end of the spectrum, the over 65s, of who 47% plan to buy something and just a quarter will buy Christmas presents.
Around 35% of respondents said they intended to spend their budget on Black Friday.
Sue Benson, managing director at The Market Creative said: “The Christmas and January sales have traditionally been the most lucrative for retailers and Black Friday has dragged spending forward.
“Consumer wallets are finite, so we’re seeing December full-price sales and profits cannibalised. Another watch out is the discount strategy involved, if merchandise isn’t shifted how low are retailers prepared to go in the traditional Boxing Day and January sale period?”
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