Despite the hype, not everyone is happy about Black Friday and Cyber Monday in the UK, with one in five adults admit to regretting purchases they made in last year’s sales.
A study by Finder.com finds that although more people are planning to take part in the sales this year – 62% of adults, compared to 36% last year – hindsight may be playing a part in their shopping plans, as the average spend per adult is expected to drop by £84.
This is perhaps not surprising considering those who do regret purchases they made in last year’s sales regret spending around £83 on average.
Even so, £7bn is expected to be spent in the sales this year. This includes one in 10 Brits (10 percent) who have deliberately held off making a purchase from anywhere between the past three months, all the way back to Black Friday last year.
Men continue to spend, despite the most regret
While £220 is the average amount that UK shoppers are planning to spend in this year’s sales, male shoppers are planning to spend £234 on average, which is £28 more than women. This is despite the fact that a quarter of men regret purchases they made last year (25%), compared to 18% of women.
Hindsight may still be impacting our shopping habits however, as men planned to spend over £166 more than women last year.
Londoners plan to halve Black Friday spend
Londoners planned to spend around £533 last year, which was £234 more than the national average in the 2017 sales. This year Londoners are planning to spend almost half that, averaging at £279.
Shoppers in the North East are planning to spend the most this year, approximately £286 on average, despite having the highest spend regret than any other region last year (£229, compared to the national average of £88). Those in the South West are planning to spend the least; £139 on average, and only regretted spending £57 last year.
Gen Z and Millennials have the most regret
30% of 18-35 year olds regret purchases they made in last year’s Black Friday and Cyber Monday sales, making the younger generation the most regretful. However Generation X regret spending an average of £112 in last year’s sales, the highest amount than any other generation. They are also the generation that is planning to spend the most this year; £264.
To find out the full breakdown on Black Friday and Cyber Monday regret, as well as how much each demographic is planning to spend this year, visit:
“There are some brilliant bargains to be found in the Black Friday and Cyber Monday sales, but as so many people regret purchases they made last year it’s possible some are caught up in the impulse spending hype. Our data shows that planned spending has dropped by a third, but that doesn’t take into account unplanned spending. To avoid post-Black Friday regret, it’s worth planning ahead. Make lists of the products you’re most keen to bag a bargain with, work out how much you can afford to spend and shop around. Our Icebox Chrome plugin also helps to give you a cooling-off period so you can shop around or sleep on it before buying.”
– Jon Ostler, CEO at finder.com