Shoppers are increasingly using Black Friday to buy household necessities rather than luxury items, as they look to manage the cost of living. A study of 2,000 adults found that 30% are worried about being able to afford everyday costs, with 52% concerned about energy prices rising this winter. As a result, 50% now see Black Friday as a good opportunity to buy things they 'need' rather than things they 'want'.
Everyday items top the shopping list
Everyday clothing (26%), new school shoes for their children (19%), toiletries (15%) and cleaning products (13%) are on the target list this year. Four in 10 of those polled will prioritise items they need this year ahead of presents for others (33%) or treats for themselves (18%).
Of those planning to shop in the sale, 65% have deliberately put off buying an essential or big-ticket item so they can buy it at a cut-down price. More than one in 10 (13%) admitted they are now relying on the offers to allow them to buy necessities they would otherwise struggle to afford. A further 18% have something they desperately need to buy but haven't had the money to do so.
Cashback tactics on the rise
Cashback expert Bola Sol from Rakuten, which commissioned the research, said: "People have got so much smarter about how they use Black Friday. It's less about grabbing whatever's on offer and more about patience."
"But it seems it's also less about impulse purchases and buying luxury items now and more about making the most of the offers to get what you really need," she added. "Waiting for the item you actually need, then using a cashback site to do some of the work for you, is a great way to alleviate cost pressures and stay on top of your budget."
The research found the average Black Friday spend is estimated to be £330, with men expected to spend almost £130 more than women on average: £393 compared to £267. This will go on big-ticket items like tech and electronics (54%), large appliances such as washing machines and dishwashers (30%) and furniture (29%).
As well as relying on the discounted prices, shoppers are also employing other money-saving tactics to stretch their finances, with 23% using cashback providers for every Black Friday purchase. Another 18% time their purchases specifically around cashback bonus periods to squeeze out extra value, and 16% save cashback earned throughout the year specifically to spend during the sales.
Planning for January bills
The study, carried out via OnePoll, found 27% of those who use cashback plan to put the money they earn towards January's bills once the big spend is done.
Bola Sol added: "Before you start browsing, allocate a specific amount for gifts, food and decorations, and involve your family in planning. Have a frank discussion with those closest to you and set a limit for gifting and spending to ease the pressure on everyone.
"Be savvy about delivery fees. If you have favourite stores, check whether they offer delivery passes or memberships, as repetitive savings can be surprisingly high.
"Don't buy just for the sake of it. Daily deals and sitewide offers are only a good deal if you actually need or want the items in question.
"Make the most of seasonal deals and special discounts by listing specific items before shopping, so you stay focused and aren't distracted by other offers.
"Take advantage of retailer benefits, voucher codes and cashback offers, which add up quickly over Christmas and can be useful in January. Cashback can also be earned on sale prices."
