Consumers are looking ahead to Black Friday deals (PA) (PA Wire)
Britons are set to spend £4 billion more over this year’s Black Friday weekend than last year, despite increasing concern among consumers about poor deals and scams, figures suggest.
Spending is set to reach almost £14 billion over the sales event, with consumers holding off on major purchases beforehand and planning to buy for Christmas, a survey for e-commerce marketing platform Omnisend found.
Black Friday still dominates the sales period, with shoppers spending £299 on average on the sales, an increase of £83 year-on-year.
However, Cyber Monday and the days following the sales weekend will also see a rise in spending, with the average basket now totalling £229 – up £70 from last year.
Omnisend has predicted that a third of consumers plan to spend more than last year, while just 14% expect to cut back.
Amazon remains the top destination for Black Friday and Cyber Monday shoppers, with 76% looking for deals across the retailer, but many are also turning to Chinese marketplaces such as Temu (22%), Shein (21%) and TikTok Shop (14%).
Previous Omnisend data suggests that 71% of consumers plan to cut spending overall at Christmas, putting further pressure on retailers to “get it right” over the Black Friday weekend from November 28-30.
However, the spectre of spiralling debt is influencing spending decisions, with buy now, pay later (BNPL) options such as Klarna and PayPal unlikely to prove as popular this year, the poll found.
Just 17% of people say that they will use BNPL options over the Black Friday weekend, rising to a third of people (32%) who would consider using it for big ticket purchases only.
Clothing and accessories remain the most popular category, with half of UK shoppers (49%) planning to make fashion purchases, followed by technology and electronics (45%), and toys (28%), as families plan ahead for festive gifts.
Marty Bauer, retail and ecommerce spokesman at Omnisend, said: “This notorious American sales event has been popular in the UK now for the best part of a decade and it looks likely to be another busy year for retailers.
“In the weeks leading up to Black Friday, start researching the regular prices of items you’re interested in. It pays to start scouting potential deals early.
“Many retailers inflate prices leading up to Black Friday, only to offer discounts that may not be as significant as they seem. Knowing the original price helps you determine if a deal is genuine.
“If you are signed up for newsletter emails from a brand, go back and look at their offers from last year. Many brands have pricing strategies that don’t change much from year to year, so this will give you a good indication of which products go on sale and when, helping you understand when a deal is actually a deal.”