You are here: Home - Credit Cards & Loans -

…and they’re off! Shoppers count down to Black Friday

0
Written by:
28/11/2014
The Thanksgiving trading window opens across the pond today, but UK shoppers appear to be increasingly adopting US spending patterns as retailers entice them in with discounts.

Research from Halifax looking at debit card transactions shows that in 2013 Black Friday was the second busiest day for spending in the entire year, with around two million more transactions carried out on the last Friday in November than any other Friday in the year, representing a 34 per cent increase in overall spending from the average Friday.

The only other day to see more spending over the course of the year was the day before Christmas Eve – the last full shopping day before Christmas. However the 9.3 million transactions carried out on the 23rd December were only 2 per cent busier than Black Friday, demonstrating that this is becoming an established spending event in the run up to Christmas.

Black Friday has also emerged as a clear winner over ‘Cyber Monday’. That said, Cyber Monday was still the busiest Monday of the year, being 24 per cent busier than the average Monday.

Anthony Warrington, director of Halifax current accounts, said: “It is often noted that Christmas appears to be starting earlier each year, and the data suggests that this is indeed the case. As UK retailers increasingly adopt the US style Black Friday promotions and discounts, we are starting to see the day after Thanksgiving become a major retail event for us here too.”

The average number of debit card purchases for November and December is 9% higher than the 10 months preceding it, with over half a million more daily transactions in these months on average. Overall, woman use their cards more than men; with 55% of transactions attributed to women, compared to 45 per cent to men. Over November and December the bias towards women increases marginally (by 1.6 per cent).

However, there is one day of the year where men (53.4 per cent) are more likely to be spending than women (46.6 per cent) – Christmas day itself.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Self-employed workers struggle to save

More than two out of five self-employed workers have no pension savings and say they cannot afford to put money...

Close