How long do we hold off buying?
With so many discounts just around the corner, it’s common to hold off spending in the lead-up to massive sales. In fact, an estimated 14.8 million Brits (35.7%) have deferred dropping pounds on clothing, electronics, major appliances and furniture until the release of Black Friday and Cyber Monday deals. Better safe than sorry, right?
Of those hanging out for a bargain, holding out for a few weeks is the most common (11.9%), followed by one- to two-months (11.6%), three to six months (7.8%) and a patient seven to eleven months (2.1%). There are even 2.3% of us willing to wait an entire year before taking on our next bargain shopping spree!
How much will we spend?
On average, Brits plan to spend an estimated £304.08 each on Black Friday and Cyber Monday sales this year — totalling a whopping £4.5 billion!
Interestingly, males intend to spend more than women, at £381.88 compared to £215.86.
Gen Xers take out the generational spending cake, with plans to spend £351.15 on average. Millennials are hot on their tracks, sitting at £341.67. Baby Boomers plan to be a bit more careful with their money, spending £184.47 on average this year.
Londoners plan to spend the most (£533.53), followed by the South West (£362.54) and the East Midlands (£263.02). In contrast, those residing in the West Midlands plan to spend the least (£188.11), followed by the North East (£191.11) and Wales (£192.14).
|Region||Average planned Black Friday/Cyber Monday spend (£)|
|East of England||£206.04|
|Yorkshire & The Humber||£221.48|