For immediate release
Brits plan to spend a record £4.5 billion on Black Friday and Cyber Monday sales
12 November 2017- 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
The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com's review pages for the current correct values.
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).