Data from BNPL provider Clearpay and Square have released data showing significant rises in some important Black Friday shopping metrics in the United Kingdom. Total transactions rose 25%, in-person transactions surged 30% and online buys inched up 5%.
Nov. 29 at precisely 8:02 a.m. was the busiest shopping minute, yet the most popular shopping day overall was Nov. 30. The number of pre-orders nearly doubled from 2023, up 96%. Restaurant transactions grew by 27%, with redeemed discounts at restaurants booming by 145%. The top spending cities include London, Edinburgh, Manchester, Bristol, Glasgow, Leeds and Birmingham.
“It’s clear that Black Friday has become the shopping moment of the year – eclipsing other traditional peaks in the retail calendar,” Clearpay UK country manager Rich Bayer said. “What is equally clear is that more and more consumers are turning to alternative payment methods to help them spread the cost of items over the short term to manage their spending ahead of the festive season. Crucially, 97% of Clearpay customers who shopped during the week of last year’s Black Friday and Cyber Monday paid off their purchase early or on time.”
“For retailers, this is a critical moment to respond to the continuing shift in consumer behaviour. Offering more payment options meets the growing consumer demand for flexibility and helps retailers reach more customers and retain existing ones.”
“It’s encouraging to see that retail and restaurant trends are on the up after what’s been a tough year for businesses of all types and sizes,” added Samina Hussain-Letch, Square’s UK executive director. “Not only is this data positive, but it’s super informative for our sellers to better understand the evolving trends and demands of their customer portfolio, especially as businesses gear up for the rest of the festive period and look ahead to the new year. It also helps us to be a great partner for our sellers and tailor our technology to give them the tools they need to grow.”