This year’s Black Friday ‘busiest shopping day on record’
This Black Friday marked a historic shopping frenzy, with Nationwide Building Society reporting it as the "busiest shopping day on record." Our members were on a shopping spree, making a whopping 9.92 million purchases – that's over 114 transactions per second. This figure not only surpassed last year's Black Friday by 2% but also outshone the same day in 2021 by an impressive 12%.
Mark Nalder, our Director of Payment Strategy, highlighted the significance of this surge in shopping activity. He mentioned, "This Black Friday was the busiest shopping day on record, up 2% on Black Friday 2022, with our customers making 9.92 million purchases – equivalent to over 114 transactions every second."
By 5 pm on Friday, our members had already made 6.66 million transactions, a remarkable 11% higher than a typical Friday and 3% more than Black Friday last year. The enthusiasm wasn't limited to our members; nationwide footfall in UK retail destinations saw an 8.2% increase compared to the previous week, according to analysts MRI Software.
Retailers strategically launched sales and tempting deals to captivate shoppers with discounted prices leading up to the festive season. Currys, the electrical chain, reported a phenomenal boost in sales, with tech products more than doubling in sales this month. Beauty tools saw a staggering 190% surge, while coffee machines and air fryers witnessed increases of 105% and 75%, respectively.
Barclays, a prominent banking group, shared insights into the pre-Black Friday shopping spree. The volume of purchases leading up to Black Friday exceeded last year's numbers, indicating a trend of retailers initiating sales earlier in the month. Data from Barclays, which processes nearly half of the UK’s credit and debit card transactions, revealed a 1.4% increase in spending volumes in the week leading to Wednesday, compared to the same week last year.
As we reflect on this record-breaking Black Friday, it's evident that shoppers embraced the festive spirit and seized the opportunity to snag incredible deals. Whether it was securing Christmas presents or indulging in a personal treat, the day was filled with excitement. If you're one of those who splurged, great choice! For those contemplating refunds, rest assured, we're here for you. Let the holiday shopping festivities continue!
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