According to data from Pricerunner, the price comparison site which Klarna acquired earlier this year and recently integrated into its own shopping app, Retailers took a cautious approach to Black Friday, discounting slightly fewer products than last year: 15% of products were on sale on Friday compared with 17% last year. However the average discount was more generous than last year at 16% off the normal price (compared with 13% last year).
According to live sales data from Klarna, across 26,000 retailers in the UK:
- On Black Friday, London, the West Midlands and The North West did the most shopping per capita; The South West and the East Midlands did the least.
- Throughout Black Week, the product category showing the biggest change in sales compared to a normal day was Leisure, Hobbies & Sport, followed by Health & Beauty, and Jewelry & Accessories.
- Throughout Black Week, Generation X (Age 42 - 57) were the biggest bargain hunters, showing the highest increase in purchases compared to a normal day, and accounted for a quarter of the week’s sales.
- The most searched-for products are iPads, air fryers and AirPods, according to data from Pricerunner.
A survey of Klarna consumers found that almost three-quarters (73%) of consumers are trying to make a larger share of holiday gift purchases during the Black Friday and Cyber Monday sales period this year.
This Black Friday followed the launch of Klarna’s new unbiased search and compare tool, which compares prices across thousands of retailers to help consumers find what they love for less. The search and compare tool provides consumers with a credible alternative to Google or Amazon as a starting point for their online shopping journeys and builds on last year’s acquisition of PriceRunner, Klarna’s largest acquisition to date.
As interest rates on credit cards and overdrafts hit record highs, Klarna believes it is more important than ever that shoppers have access to an interest and fee-free credit option at the point of purchase.
Product categories increasing the most in popularity compared to a normal week (Black Week)
Top 25 search terms price comparison site, Pricerunner