Technology

Black Friday delivers lowest consumer technology sales since 2017

A

ir fryers, clothes airers and electric blankets bucked a downward trend for Black Friday sales this year as budget-conscious consumers took a cautious approach to the event.

This year’s Black Friday delivered the weakest results for the technology and durables sector for five years, with the total market down 2.1% and online sales by value falling 3.8%, according to analysts GfK.

However, consumers seeking to cut energy bills sent sales of air fryers up 145% in a year in one of the few positives in an otherwise disappointing event for retailers.

Other top-selling energy-efficient appliances included electric blankets, heated clothes airers and heated throws.

Many people bought technology goods during the Covid periods of 2020 and 2021, so there isn’t the same level of need to buy new items, but there’s also a distinct lack of innovation in the market

Thermal curtains and blinds also proved popular, part of the “low-cost refresh” trend, where budget-conscious homeowners add a fresh coat of paint and cheaper items such as throws and candles to economically improve their living space.

Kelly Whitwick, senior manager of retail market intelligence at GfK, said: “These results confirm that consumers are being much more considered in their purchases.

“It’s not just the cost of living that is a concern.

“Many people bought technology goods during the Covid periods of 2020 and 2021, so there isn’t the same level of need to buy new items, but there’s also a distinct lack of innovation in the market.

“In the last recession, consumers continued to invest in the latest technology.

“With fewer product launches, there’s little or no urgency to spend this Black Friday.

“The only category to enjoy growth was telecoms – one where new features are still on offer.”

Related Articles

Back to top button