Spending Surge and Scam Threats Loom Over Black Friday
British consumers are preparing for a massive spending spree, with projections indicating they will part with close to £14 billion during this year's Black Friday sales weekend. This comes despite growing anxieties about fraudulent deals and the true value of discounts, according to a new survey for the e-commerce platform Omnisend.
Changing Shopping Habits and Retail Destinations
The research reveals that Black Friday continues to be the dominant sales event. The average shopper is expected to spend £299, a significant increase of £83 compared to the previous year. Furthermore, spending momentum is set to continue into Cyber Monday and the following days, with the average basket value rising to £229 – a £70 year-on-year jump.
Omnisend's data indicates that a third of all consumers plan to increase their expenditure from 2024, while only 14% intend to cut back. This is particularly noteworthy as 71% of shoppers aim to reduce their overall Christmas spending, putting immense pressure on retailers to perform during the Black Friday period.
While Amazon remains the top destination for bargain hunters, with 76% of shoppers heading there, a notable shift is occurring. Chinese marketplaces are gaining substantial traction, with Temu (22%), Shein (21%), and TikTok Shop (14%) becoming popular alternatives for deal-seekers.
Financial Caution and Expert Security Advice
The spectre of debt is influencing purchasing decisions. The poll found that traditional Buy Now, Pay Later (BNPL) services like Klarna and PayPal are less popular this year. Only 17% of people plan to use BNPL options over the weekend, though this figure rises to 32% for those considering it solely for big-ticket items.
Fashion leads the shopping categories, with 49% of UK shoppers planning to buy clothing and accessories. This is followed by technology and electronics (45%) and toys (28%), as families begin their festive gift shopping early.
Marty Bauer, a retail and ecommerce spokesman at Omnisend, advised shoppers to be proactive. "Start researching the regular prices of items you’re interested in well in advance," he recommended. "Many retailers inflate prices before Black Friday, so knowing the original cost is key to identifying a genuine bargain."
Consumer groups have issued strong warnings. Citizens Advice expert Jane Parsons stated, "Black Friday is a prime opportunity for cyber scammers. Criminals create a sense of urgency to steal your money, so don't rush your purchase." She emphasised the importance of researching the seller and using credit or debit cards for added protection.
Which? consumer law expert Lisa Webb provided specific guidance: "Shoppers should be extra cautious with Black Friday deal emails. Double-check the sender's address and avoid clicking suspicious links. On social media, treat deals from newly created accounts with suspicion." She also advised using domain checkers to verify a website's creation date and to report any suspected fraud to your bank and Action Fraud immediately.
