Brits to spend £5.6 billion this Black Friday and Cyber Monday (down from £7 billion last year)
22 November, 2019, LONDON –
British shoppers plan to spend an estimated £5.6 billion this Black Friday and Cyber Monday weekend.
However, this is £1.4 billion less than in 2018 (£7 billion), according to new research by personal finance comparison website finder.com.
The drop in the total is due to significantly fewer Brits planning to take part in the sales this year, under half (42%) will do so compared to 62% last year. Those intending to participate are set to spend £15.37 more on average, which means they will part with £251.20 this year, compared to £235.83 in 2018.
Most Black Friday and Cyber Monday purchases look set to happen online, with 92% of shoppers saying they will buy something over the internet. This includes over half (56%) who intend to do all of their sales shopping online.
In contrast, only 9% will get all of their sales shopping from stores, while just over a third (35%) of Brits will get their purchases from a combination of physical stores and websites.
Parallel research conducted by Finder in the USA found that Americans are twice as likely to participate in the shopping weekend (86% v 43%). They are also planning to spend over £300 each. In Australia, the figure drops to three quarters (76%) of residents taking part in the sales, but this is still significantly higher than in the UK.
As in previous years, men said they will be spending more than women - this year the average difference is £74.43 (£288.94 vs £214.51). They are slightly less likely to participate this year however (48% v 52% of women).
Gen Z (born after 1996) are set to be the generation that spends the most and have the highest proportion of shoppers this Black Friday. Almost two thirds (64%) plan to fork out £261.29 on average.
Those from the silent generation don’t appear to be convinced by the occasion. Only 13% will take part and they will part with an average of £162.22 each.
Just like last year, Londoners are looking to splash the most cash compared to other areas of the UK. Spenders from the capital plan to fork out £374.74 each on average, which is £123.54 more than the national average (£251.20). At the other end of the scale is Wales, where shoppers intend to part with just £139.24 on average.
For full breakdowns of how Brits plan to shop this Black Friday and what they plan to spend, visit: https://www.finder.com/uk/black-friday-statistics
Commenting on the findings, Jon Ostler, CEO at finder.com, said: “Typically Black Friday and Cyber Monday sales can be a great opportunity to find bargains. From our research, it’s clear that consumers favour online shopping and this can be great for comparing prices so you can get the best deal.
“However, it’s easy to impulse-buy. Our research last year found that a fifth of people regretted purchases they had previously made in the sales so it’s worth planning ahead to avoid post-Black Friday regret. Make lists of your target products and work out how much you can afford to spend and shop around.”
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Methodology:
Finder commissioned Onepoll on 14-18 November 2019 to carry out a nationally representative survey of adults aged 18+.
A total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region.
About finder.com/uk
finder.com is a personal finance website which helps consumers compare products online so they can make better informed decisions. Consumers can visit the website to compare utilities, mortgages, credit cards, insurance products, shopping voucher codes, and so much more before choosing the option that best suits their needs.
Best of all, finder.com is completely free to use. We’re not a bank or insurer, nor are we owned by one, and we are not a product issuer or a credit provider. We’re not affiliated with any one institution or outlet, so it’s genuine advice from a team of experts who care about helping you find better.
finder.com launched in the UK in February 2017 and is privately owned and self-funded by two Australian entrepreneurs – Fred Schebesta and Frank Restuccia – who successfully grew finder.com.au to be Australia's most visited personal finance website (Source: Experian Hitwise).
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For further press information
Matt Mckenna
Head of UK communications
M: +44 747 921 7816
T: +44 20 3828 1338
matt.mckenna@finder.com