According to Yoyo data, Black Friday 2019 caused high street footfall to increase by 6% despite industry warnings, but its impact is down on 2018.
Analysing footfall at more than 1000 Yoyo-accepting food and drink outlets on UK high streets, we compared the number of transactions that took place on Fridays between 1 and 29 November 2019.
The data revealed that footfall on 29 November (Black Friday) increased by 6.2% compared to average Friday footfall in that month.
Despite experts predicting that customers would abandon in-store shopping for online this year, the data is good news for high street stores and justifies Black Friday’s continued importance on the retail calendar.
However, Black Friday’s influence on the high street may be waning, with this year’s footfall uplift down compared to 2018.
Last year, Black Friday (23 Nov 2018) saw footfall rise 7.5% in Yoyo-accepting high street outlets compared to other Fridays in that month.
This reveals Black Friday’s impact on UK high streets in 2019 has actually declined 1.3% year-on-year.
If this trend continues in the coming years, Black Friday as a marketing tactic may soon be redundant, which is bound to affect the crucial Christmas trading period that so many high street retailers are said to rely on to survive.
But this is the first working day of the festive month and this Yoyo-er isn’t going to leave things on such a depressing note.
While there’s no doubt that online shopping is growing, it’s worth remembering that 82% of transactions continue to take place in physical stores (source: ONS).
A fact that is more poignant when coupled with virtually every survey that says we consumers would prefer to shop in-store rather than buy online.
Experts and consumers are in agreement that longer-term strategies around customer experience, not one-off promotional events like Black Friday, are what will determine the future of the high street.
No better proof of this came when Yoyo recently revealed what happens when high street retailers meaningfully invest in customer experience.
Our data showed that customers using a Yoyo-powered app to shop on the five “worst UK high streets” had actually increased their average spend per visit by a massive 25% year-on-year (find out more here).
This is a clear sign that retailers delivering an in-store experience, which can match or exceed the fast, convenient and personalised online experience, will find success even in the most challenging of high street environments.
Anyway, time for some concluding words – whether shopping in-store or online on Black Friday, we hope you managed to bag yourselves some lovely money-saving Christmas shopping deals.
At Yoyo our aim is pretty simple: we want to help retailers modernise their in-store customer experience so that positive sentiment for the UK high street converts to positive behaviour.
If you’d like to find out how Yoyo can inject a fast, convenient and personalised experience into your in-store offering, visit poweredbyyoyo.com