22 Nov Black Friday Winners – and Losers
LOVE it or loathe it, Black Friday is here to stay.
The busiest day in the US shopping calendar is regarded with a strange mix of suspicion and excitement on this side of the pond. But despite our healthy British scepticism, publicity around the high value deals can quickly loosen the purse strings of even the most financial-savvy.
But who really wins on Black Friday – the shopper or the shop? Read on to decide.
Hitting the high street
Only a quarter of all Black Friday spending is expected to take place in physical stores this year, according to PWC. So instead of boosting the beleaguered high street, online retailers and delivery firms will be the ones cashing in.
It’s the new national sport
Only one in ten UK shoppers say they won’t be shopping on Black Friday. The report from TopCashback says a fifth is yet to decide, leaving seven in ten ready to spend. Last year a third of TopCashback members stocked up on clothes, a quarter on beauty and home goods, while one in five bought toys.
Believe the hype
More than six in 10 shoppers say they feel pressured to spend on Black Friday, wasting around £3.9bn on Black Friday splurges they haven’t used or even remember buying, according to Gumtree. Clothing, coffee machines and handbags top the list of regretted purchases.
Forget Christmas giving
While some will be intending to buy for others, for many more consumers it’s an excuse to buy something for themselves, with two-thirds of men keeping their Black Friday spoils, according to PWC.
Put down the turkey
It’s now 17 years since Black Friday – which always falls the day after the American Thanksgiving celebrations – was named the busiest shopping day of the year in the US. It was 2001 when it overtook the Saturday before Christmas.
What’s in a name?
The US city that first popularised the term ‘Black Friday’ was Philadelphia. Police officers, frustrated by traffic jams caused by shoppers, started referring to it derisively as Black Friday. Retailers, unhappy at the association with traffic and smog, tried to rebrand it as Big Friday. They failed.
It’s not all spend, spend, spend
Some brands, such as herbal tea company Pukka Herbs, is using the Black Friday goodwill as a force for good, donation 100 per cent of sales over Black Friday weekend to TreeSisters, helping to plant trees around the world. In 2017, Pukka donated £425,000 and will donate more than £500,000 in 2018.
Expect Black Friday babies…
… or at least weddings. According to jewellery insurance provider Protect Your Bubble, one in eight lovestruck couples will be shopping for the perfect engagement ring this weekend.
Scammers crawl out of the woodwork at this time of year, creating fake websites and stealing valuable personal information. According to cybersecurity experts McAfee, a fifth of Brits have bought something in a panic from a website they did not recognise over Black Friday weekend because they were scared they’d miss out on a good deal.
Ignorance is bliss
According to the website TrustedReviews.com, two in every 100 Brits hasn’t even heard of Black Friday.