58% of last year’s Black Friday shoppers ‘would have spent money differently’
More than half (58%) of last year’s Black Friday shoppers would change how they spent their money if they had the chance, a survey indicates.
Over two-fifths (43%) of people made a purchase during the Black Friday deals last year, spending £144 on average, according to Aegon.
Among those who would have spent their money differently, some said they would have put it into savings, spent it on a holiday or experience, bought everyday essentials or paid down debts.
Aegon’s Money:Mindshift research found that looking ahead to this year’s Black Friday (November 28), 43% of people expect to make at least one purchase. Those planning to make purchases are expecting to spend £174 on average.
People aged 18 to 34 expect to spend an average of £297, compared with £199 typically among 35 to 54-year-olds.
Over-55s are the most cautious Black Friday purchasers, with an average projected spend of just £54, according to the survey of 2,000 people across the UK in November, carried out by Opinium.
Aegon’s Money:Mindshift podcast host Dr Tom Mathar said: "Black Friday often offers the opportunity to buy products and experiences that increase happiness at a lower price. But of course, the reality is a little more complex than that.
"Half (48%) of those who filled their virtual or physical shopping bags last November admitted that they spent more than originally planned."
It comes as Britons are set to spend £4 billion more over this year’s Black Friday weekend than last year, despite increasing concern among consumers about poor deals and scams.
Spending is set to reach almost £14 billion over the sales event, with consumers holding off on major purchases beforehand and planning to buy for Christmas, a survey for e-commerce marketing platform Omnisend found.
However, data also suggests that 71% of consumers plan to cut spending overall at Christmas, putting further pressure on retailers to “get it right” over the Black Friday weekend from 28-30 November.
