You are here: Home - Household Bills - News -

Brits to spend £4.5bn on Black Friday: tips for bagging a bargain

0
Written by:
14/11/2018
UK consumers are planning to spend an estimated £4.5bn in this year’s Black Friday sales, the equivalent of £165 per household, according to research.

A study of 2,000 people by GoCompare found over a third (36%) will try to bag a bargain in the November sales bonanza and 22% have delayed a major purchase hoping to find the item discounted in the sales.

Black Friday officially kicks off on 23 November but many stores have already launched deals and slashed prices.

Households plan to spend £165 in this year’s sales, a 53% increase on 2017’s planned spend.

Clothing and accessories remain the most sought-after items on bargain-hunters’ shopping list followed by toys and games and small electricals such as coffee machines and food processors.

According to the survey, 57% intend to shop online this year and 17% will use their smartphone, up from 9% in 2017.

Georgie Frost, consumer advocate at GoCompare Credit Card said: “In just a handful of years, Black Friday has grown rapidly to become one of the UK’s biggest shopping events, and has transformed from a one-day event on the high street to a three-week long, online marathon.

“There will be some good deals to be had in the sales. However, it’s always wise to do a bit of research before you buy, especially if you’re looking for big ticket items such as a laptop or TV.”

Top tips for bagging a bargain in the sales:

  1. Make a list of the items you would like to buy. This will help focus your sale shopping on things you want, rather than buying something simply because it’s cheap.
  2. Where applicable (e.g. electronic items and gadgets) research product features, reliability, warranties and check any extra costs, including delivery charges.
  3. Look at prices ahead of the sales. This will help you to judge how good a deal is.  Some retailers make discounts look more generous by inflating prices ahead of a sale or by basing the percentage discounted on the recommended retail price rather than the price they usually retail the item for.
  4. Set a budget and keep to it.
  5. Shop around – compare prices from different online and high-street retailers.

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.

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...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

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

  • RT @MeikWiking: #Happiness has a price: £2,000. That's how much salary almost half of Brits are willing to sacrifice for more free time (vi…
  • #Happiness has a price: £2,000. That's how much salary almost half of Brits are willing to sacrifice for more free… https://t.co/Hn4L86Ot9T
  • Looking for an easy way to grow your pension pot? Have you tried packed lunches? You can save hundred of pounds a y… https://t.co/23GWscQ2b0

Read previous post:
Five things that might put you off switching current account

A number of banks are offering cash incentives to tempt savers to ditch their current account provider and join them...

Close