Whether you’re looking for Christmas presents at bargain prices or a big ticket purchase like a new TV or washing machine, Black Friday may well be the best time to hit the shops.
Falling on the day after Thanksgiving (November 27 this year) Black Friday has long been one of the biggest shopping days in the US calendar, with big retailers offering significant discounts to get the festive shopping season off to a bang. In recent years, Black Friday has grown increasingly popular this side of the Atlantic too, with global companies like Amazon and home-grown retailers like John Lewis and M&S getting in on the act.
Our recent research1 revealed that the average shopper spends £176 on Black Friday, while our current account figures highlight that one in three people were in stores or online on Black Friday last year. This translates to more than £120 million spent on debit cards – surpassing the amount spent on the Friday before Christmas (19th December), often considered an annual peak in spending.
Black Friday proved so popular in 2014 that a number of big retailers’ websites, including Argos and Tesco, went down, while fighting over heavily-discounted products broke out in some high street stores and some shops even had to shut their doors due to excessive numbers of people trying to enter.
While many retailers will have learned lessons and put measures in place to cope with extreme numbers of shoppers this year, if you want to be sure of bagging a Black Friday bargain, it pays to be prepared.