Consumers anticipate spending £237 on Black Friday

With Black Friday almost here, new research commissioned by TopCashback has revealed that 44% of UK adults expect to shop during this year’s sales, spending an average of £237.40.

Black Friday is also set to play an important role in Christmas shopping, with seven in ten (72%) of Black Friday shoppers who celebrate Christmas expecting to buy festive gifts during the sales. This includes 15% who will buy most of their gifts and 6% who plan to buy almost all of them.

As anticipation builds, many shoppers are taking a considered approach to their spending. Two-fifths (41%) of Black Friday shoppers plan to set a budget, with 15% intending to stick to it and 26% allowing themselves some flexibility.

Securing the best value for money is a priority, as two-fifths (37%) of Black Friday shoppers plan to compare prices across retailers, while 31% will make a shopping list in advance and 29% will research products before buying. However, additional savings opportunities may be being overlooked. While 27% plan to search for voucher or discount codes, just 19% of expected Black Friday shoppers will check whether cashback is available before making a purchase, with this rising to almost a quarter of millennials (24%).

Abigail Yearley, Director at TopCashback, said: “Black Friday is a great opportunity to take advantage of offers and maximise your budget, particularly if you’re shopping for things you’ve been planning to buy.

“While it’s easy to get swept up, saving money isn’t just about grabbing the lowest price – remember to spend with intent and if you’re not already planning to, take some time beforehand to prepare like 87% of potential shoppers say they will. “With 27% of Black Friday shoppers planning to search for voucher or discount codes, but just 19% checking for cashback, there are opportunities to make your money stretch even further on the day. Take your time to double-check deals, compare prices and consider whether you’re buying something you need or want, either for Christmas or beyond.”