Shoppers Prepare To Drop £4.5bn On Black Friday Sales
The biggest shopping event of the year is just over a week away and Brits all over the country are preparing for a spending spree to take advantage of the great deals on offer.
Whether you are buying festive decorations, looking for gold-plated jewellery for special Christmas gifts, want to update your home technology, or simply love a bargain, you will not be alone in waiting for November 23rd to roll around so you can find what you want at a lower price.
In fact, according to GoCompare Credit Cards, Brits are expected to spend an average of £165 this Black Friday, which represents an increase of 53 per cent on last year’s figures, and totals £4.5 billion across the country.
Georgie Frost, consumer advocate at the company, was quoted by Your Money as saying: “In just a handful of years, Black Friday has grown rapidly to become one of the UK’s biggest shopping events.”
She stated that as it has transformed from a one-day event into a sale that lasts several weeks for some retailers, consumers are becoming savvier and taking greater advantage of the sales.
“Shoppers are now being bombarded with the sales hype from retailers over a much longer period, and it is all too easy to get carried away and overspend,” Ms Frost noted.
Many Brits are likely to stay at home on Black Friday instead of hitting the high street, after 2017’s event showed a record spend online for the event. As much as £1.39 billion was spent in last year’s sale, an increase of 11.7 per cent from the year before, IMRG statistics revealed.