Don’t let Black Friday turn into a black eye day!
One in ten Brits are willing to stand toe-to-toe with fellow shoppers in order to bag a bargain on Black Friday, new research has revealed.
The survey, from Nationwide Current Accounts, shows that the average shopper spends £176 on Black Friday, while Nationwide’s current account figures highlight that one in three people (35 per cent) were in stores or online on Black Friday last year.
This translated to more than £120 million being piled onto debit cards – surpassing the amount spent on the Friday before Christmas (December 19), often considered an annual peak in spending.
But while 10 per cent of shoppers are ready to argue over goods on November 27, the poll shows that one in eight people (13 per cent) actually end up returning the goods they buy – indicating a culture of impulse buying.
Nationwide’s survey shows more than half (51 per cent) confessed to impulse purchases on the day.
The Society’s alternative Black Friday message is for people to research and plan their purchases beforehand to avoid being landed with something they don’t actually need, or perhaps even want.
Phil Smith, Nationwide’s head of current accounts, said: “People should consider putting money aside for something they do actually want rather than simply buying something because it is listed as a bargain.
“The benefits of impulse saving can have a positive impact on our finances. And for those who make big home appliance purchases, consider extending your warranty to cover all eventualities”.
The attraction of a mass-bargain shopping spree naturally drains stock of must-have items and fuels arguments on the shop floor. The survey shows that men are nearly twice as likely as women to clash over goods, with one in eight (13 per cent) prepared to argue compared to just seven per cent of women.
According to the poll, the most prized items purchased on Black Friday include home appliances, computers, computer games and new televisions.
Phil Smith, Nationwide’s head of current accounts, continued: “For many, Black Friday coincides with the last payday before Christmas, so they use it to kick-start and supplement their Christmas shopping.
“Half of shoppers confessed to making impulse buys on the day to secure a bargain, but in the cold light of day many seemingly realised it wasn’t quite the bargain they thought and ended up taking the goods back.
“And with only a limited number of the best deals available, tensions can spill over, resulting in arguments over goods usually associated with panic buying.
“Customers should consider doing a little bit of research and planning beforehand as many stores will advertise offers ahead of time. In doing so, we can ensure we’re buying the goods we actually want at a discounted price rather than being tempted by the lure of a bargain on something we don’t particularly need.”