With Black Friday bearing down on us, there is much research into how people are likely to shop over the peak period – but what will they be buying and will they actually make any savings?
New research conducted by VIGA for PriceSpy, a fully impartial price and product comparison service, reveals that morethan half (56%) of UK shoppers are planning to shop on Black Friday this year, up 16% from 2017.
What are they buying?
The data also reveals growth increases in the product categories that shoppers will be buying from. The largest majority (65%) of shoppers in the UK plan on buying gadgets and electronics, up 10% from last year (55%).
This is followed by fashion (41%), up 4%, toys, children & baby (37%) and beauty & health (31%) are up 1% from last year.
While Black Friday is traditionally associated with deals on gadgets and electronics, in 2017 PriceSpy witnessed the biggest savings in its home and garden category. With an average saving of 15%.
83% of the products in the home and garden category had a lower price on Black Friday last year compared to 1st November.
What are they saving?
In terms of price reductions, PriceSpy data shows that 86% of products in its audio and video category were cheaper on Black Friday 2017.
This was followed by:
- Home & garden (83%)
- Games & consoles (71%)
- Computer & Accessories(67%)
- Phones & GPS (61%)
Too good to be true?
While there are evidently great deals to be had across multiple categories, PriceSpy also warns that shoppers are at risk of falling victim to too-good-to-be-true sales this Black Friday.
Perfume was the second most clicked on product type on PriceSpy on Black Friday last year, however, 34% of the perfumes listed on the site had a higher price on Black Friday compared to 1 November 2017.
“The high street is in a constant state of discounting, battling against persistent competition from online retailers. Although Black Friday is traditionally associated with technology and gadgets, savvy shoppers are aware that some retailers typically hike their prices up before Black Friday, appearing to offer bigger discounts. Or that prices can simply be cheaper at other times of the year. We encourage shoppers to check the price history of the product to understand the best time to buy and ensure they’re getting a good deal.”
– Vanessa Katsapa, country manager UK & Ireland, PriceSpy
