According to research by GoCompare UK consumers are planning to spend a huge £4.5 billion in this year’s Black Friday Christmas sales, the equivalent of £165.00 per household. A study of 2,000 people discovered that 22% have delayed a major purchase hoping for a Black Friday bargain, and 36% expecting to purchase something in the sales.
Each households £165.00 intended spend is a 53% increase on 2017, with clothing and accessories the most sought-after items on the shopping list. Next on the list are toys and games, followed by small electrical items such as toasters and coffee amchines.
The official start date for Black Friday is November 23rd, but many retailers, especially online take the opportunity to launch special deals and offers much earlier on in November.
According to the survey, 57% intend to shop online this year and 17% will use their smartphone to do this which is and increase of 9% from 2017.
Consumer advocate at GoCompare Credit Card Georgie Frost said: “In just a handful of years, Black Friday has grown rapidly to become one of the UK’s biggest shopping events, and has transformed from a one-day event on the high street to a three-week long, online marathon. There will be some good deals to be had in the sales. However, it’s always wise to do a bit of research before you buy, especially if you’re looking for big ticket items such as a laptop or TV.”
Thus what are the top tips for a successful Black Friday shop? Well firstly always make a list of what you would like to buy, as such a huge sale offers many distractions. Secondly, try and do some research as to the prices ahead of the impending sale so you know how good a deal it really is and try to stick to a budget. Lastly, always shop around and compare different retailers. Offers may sometimes be online only, or vice versa only available on the high street, check all warranties and any extra costs such as delivery charges. Check your credit card for any 0% purchase offers or shop around for unsecured loans that offer competitive interest rates.