Consumers will spend an estimated £4.9 billion (£175 per household) on bagging bargains in the weekend-long sales commencing Friday 25 November.
The survey of over 2,000 UK adults found that 34 per cent of people will check out this year’s sales; a fifth have bought things in past sales and 9 per cent are planning to use the sales to buy most of their Christmas shopping.
While the average spend per household in this year’s sales is £175, seven per cent say they will spend in excess of £500 bagging Black Friday and Cyber Monday bargains.
|Top items bargain hunters plan to buy in the Black Friday and Cyber Monday sales|
|1||Clothing and accessories||27 per cent|
|2||Toys and games||19 per cent|
|3=||Health and beauty products||15 per cent|
|3=||Small electrical appliances||15 per cent|
|5||A new laptop||14 per cent|
|6||A new TV||13 per cent|
|7=||A tablet computer||13 per cent|
|7=||A new smartphone||11 per cent|
|9||PS4 or Xbox games||10 per cent|
|10=||Furniture||8 per cent|
|10=||Fitness clothing and accessories||8 per cent|
|10=||A games console – e.g. PS4, Xbox One||8 per cent|
|10=||White goods – e.g. fridge freezer, dishwasher||8 per cent|
Nearly a quarter (24 per cent) of those surveyed said that they research the items they want to buy ahead of the sale, with 19 per cent saying they hold off making big purchases until the sales.
However, the survey also revealed that Black Friday and Cyber Monday is set to leave the UK with a massive financial hangover. Nearly one in 10 (9 per cent)said that the mega sales cause them to overspend or buy things they don’t really need – meaning the country will have as much as £441m worth of buyer’s remorse once the sales are over.
Matt Sanders from Gocompare.com Credit Cards said: “Our research shows that British shoppers have wholeheartedly embraced the Black Friday and Cyber Monday sales to bag bargains and kick-start their Christmas shopping. But rather than saving them money, the hype around the sales can tempt some people to buy items that they don’t need or can’t afford.”