Brits Plan to Spend a Record £4.5 Billion on Black Friday and Cyber Monday Sales
- Brits are prepared to spend over £300 on average in the sales this year
- Estimated 14.8 million Brits save up months in advance
- Men plan to spend over £166 more than women
- Londoners plan to spend a whopping £533.53 on average
Research by price comparison site, finder.com has found that Brits are planning to spend a record £4.5 billion during Black Friday and Cyber Monday sales this year. According to finder’s survey of 2,000 adults across the UK, bargain hunters are planning to spend over £300 on average this year, having saved for weeks, sometimes months in advance for the sales event.
Londoners plan to spend the most out of all regions in the UK, preparing to spend around £533.53, which is almost three times more than those in the West Midlands, who plan to spend around £188.11 on average.
Brits hold off spending for several months to bag a Black Friday bargain
Finder’s survey also discovered that 14.8 million Brits hold off from making purchases for months in advance in order to take advantage of the sales. One in eight (12.2 percent) of those that wait claim to have held off from making purchases for over three months this year.
Jon Ostler, CEO of finder (UK) gave some tips to Brits looking to make the most of Black Friday and Cyber Monday sales this year: “We know that impulse spending is a guilty pleasure for 86.5 percent of Brits**, so considering £4.5 billion only takes into account planned purchases, we’re expecting a significant increase in Black Friday and Cyber Monday spending this year. It’s easy to get caught up in the hype surrounding these sales so in order to avoid spending more than your budget can allow, it’s worth preparing ahead. Make lists, do your research on prices early, try to avoid those impulse-buys, and you’ll not only avoid over-stretching yourself, but you’ll feel smug in the knowledge that you’ve nabbed a bargain deal.”
For more information about finder’s survey, please visit https://www.finder.com/uk/black-friday-statistics
Notes to editors:
- Jon Ostler, CEO (UK) at finder.com is available for comment, opinion or interview regarding this research.
- Survey of 2,000 adults across the UK, carried out by Mortar London on behalf of finder.com
- *Due to small sample size, results exclude Northern Ireland
- **According to finder’s survey of 2,000 adults investigating Britain’s impulse buying habits:
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finder, Australia’s #1 comparison site, launched in the UK in February 2017.
Founded in 2006, finder has over three million MUUs and has helped consumers make 15 million decisions over the past decade.
finder is entirely independent, offering consumers unbiased content, comparisons and, wherever possible, a full market view.
So much more than just a comparison site, finder provides in depth guides, advice and editorial content to help consumers better understand all the options and products available.
Committed to educating and empowering consumers to make informed choices and ultimately, to make savings, finder’s success is based on the provision of up to date and relevant information supplied by dedicated, round the clock research teams.
Categories currently available in the UK include money transfers, travel money, gas & electricity, mobile, broadband, and TV streaming. New products (including insurance, credit cards, loans, mortgages and pensions) will be rolled out over the coming months.
Currently operating in 10 countries –Australia, New Zealand, USA and the UK, Canada, Hong Kong, Singapore, Chile, Mexico and Spain – finder employs over 120 staff and aims to increase global presence further in the next few years.