Brits’ wallets are braced for Black Friday

By Oliver Smith 4 November 2016
Photo by iStock/PeopleImages.

PwC says more than 1 in 4 of us are planning to spend big.

Shopping season is coming.

Black Friday (25 November) and Cyber Monday (28 November) only arrived in Britain in 2012, but since then they’ve exploded in popularity.

The American celebration (it’s the day following Thanksgiving Day in the US) is now the unofficial start of Britain’s Christmas shopping season, and in 2016 it’s predicted to be bigger than ever.

In fact 27% of UK adults are planning to buy something over Black Friday or Cyber Monday this year, with an average expected spend of around £203 according to PwC.

“Our research shows Black Friday and Cyber Monday are definitely here to stay, with sales over the weekend due to grow by a predicted 38% to £2.9bn,” said PwC’s retail and consumer lead Madeleine Thomson.

The growth will be driven by aggressive sales and promotions from retailers who slash prices to annual lows on these days.

“Nearly a third of respondents expected goods to be cheaper [on Black Friday and Cyber Monday] than across pre-Christmas sales.”

Meanwhile an average spend of £203 would represent a doubling of how much people spent on Black Friday and Cyber Monday in 2015.

So the question is, what will you be buying?