For immediate release
One in five Brits regret Black Friday and Cyber Monday purchases
- £7bn is expected to be spent during the Black Friday and Cyber Monday sales this year
- Brits plan to spend £220 on average, £84 less than last year
- Men continue to spend more than women, despite having the most regret
- Londoners tighten their purse strings, planning to spend £255 less than last year
- 18-35 year olds have the most regret of any generation from last year’s sales
15 November, 2018, LONDON –
Black Friday and Cyber Monday sales may be losing their appeal in the UK according to a study by personal finance comparison website, finder.com, as over one in five (21 percent) adults admit to regretting purchases they made in last year’s sales.
Finder.com‘s survey found that although more people are planning to take part in the sales this year, (62 percent of adults, compared to 36 percent last year), hindsight may be playing a part in their shopping plans, as the average spend per adult is expected to drop by £84.
This is perhaps not surprising considering those who do regret purchases they made in last year’s sales regret spending around £83 on average.
Even so, £7bn is expected to be spent in the sales this year. This includes one in 10 Brits (10 percent) who have deliberately held off making a purchase from anywhere between the past three months, all the way back to Black Friday last year.
Men continue to spend the most, despite having the most regret
While £220 is the average amount that UK shoppers are planning to spend in this year’s sales, male shoppers are planning to spend £234 on average, which is £28 more than women. This is despite the fact that a quarter of men regret purchases they made last year (25 percent), compared to 18 percent of women.
Hindsight may still be impacting our shopping habits however, as men planned to spend over £166 more than women last year.
Londoners plan to halve their Black Friday spend
Londoners planned to spend around £533 last year, which was £234 more than the national average in the 2017 sales. This year Londoners are planning to spend almost half that, averaging at £279.
Shoppers in the North East are planning to spend the most this year, approximately £286 on average, despite having the highest spend regret than any other region last year (£229, compared to the national average of £88). Those in the South West are planning to spend the least; £139 on average, and only regretted spending £57 last year.
Gen Z and Millennials have the most regret
30 percent of 18-35 year olds regret purchases they made in last year’s Black Friday and Cyber Monday sales, making the younger generation the most regretful. However Generation X regret spending an average of £112 in last year’s sales, the highest amount than any other generation. They are also the generation that is planning to spend the most this year; £264.
To find out the full breakdown on Black Friday and Cyber Monday regret, as well as how much each demographic is planning to spend this year, visit: https://www.finder.com/uk/black-friday-statistics
Speaking about the findings, Jon Ostler, CEO at finder.com, said: “There are some brilliant bargains to be found in the Black Friday and Cyber Monday sales, but as so many people regret purchases they made last year it’s possible some are caught up in the impulse spending hype. Our data shows that planned spending has dropped by a third, but that doesn’t take into account unplanned spending.
To avoid post-Black Friday regret, it’s worth planning ahead. Make lists of the products you’re most keen to bag a bargain with, work out how much you can afford to spend and shop around. Our Icebox Chrome plugin also helps to give you a cooling-off period so you can shop around or sleep on it before buying.”
Icebox replaces “buy” button for online stores
Finder.com’s Icebox is a Google Chrome plugin that allows shoppers to put their online basket items ‘on ice’ for more time to consider their purchases. Icebox either replaces the ‘buy’ button or works as a pop-up on hundreds of the UK’s top online stores including ASOS, Next and Topshop.
For more information or to add Icebox to Chrome, visit: https://www.finder.com/uk/icebox
- Jon Ostler, CEO at finder.com (UK) is available for comment, opinion or interviews
- Survey of 2,000 adults across the UK, carried out by OnePoll on behalf of finder.com
- UK adult population according to latest figures by the ONS
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).