20 November 2017

UK Shoppers Set To Spend £300 Each Over Black Friday Weekend

60% of Brits will shop this Black Friday weekend
85% of people think it’s a good way to save money
Last year shoppers saved £100 each on Black Friday bargains

UK shoppers are getting set to bag a bargain this Black Friday – on what is typically the busiest shopping day of the year. With only four weeks to go until Christmas Day, new research from TSB reveals that Brits are planning to spend, on average, £3001 each this weekend alone.

The wait is over…

The festive period can be an expensive time of the year, with many hidden costs associated. So it’s no wonder that six in 10 people (57%) are waiting to see what deals come up at the Black Friday shopping extravaganza before starting their Christmas shopping.

Last year’s Black Friday, on 25 November 2016, was the biggest single day for retail sales in the UK. TSB customers spent 75% more on their debit cards, compared with the average day in 20162.

Is it worth it?

TSB’s research showed that nearly 80% of Brits shopped on last year’s Black Friday weekend. And over 80% of those said they saved, on average, nearly £100 each.

So it’s no wonder that shoppers are already getting organised in advance to make the most of the bargains on offer this year. Six in 10 people say they are planning to hit the shops or head online this year. Four in 10 people shopping this weekend have already written a shopping list, and six in 10 people have a budget in mind.

Craig Bundell, Director of Personal Current Accounts at TSB, commented: “Christmas can be an expensive time of year so it’s encouraging to see that people can save money by making the most of the Black Friday deals on offer.

“However, with lots of deals out there it could be easy for people to push themselves over budget if they don’t plan ahead. A bit of forward planning and having a specific shopping list could make all the difference when it comes to making the most of the Black Friday deals and comfortably covering the cost of Christmas.”

What’s on the top of people’s shopping lists?

TSB’s research also reveals what types of items people will be hunting for the best deals on this weekend:

  • Electronics – 68%
  • Clothes – 37%
  • Movies, TV and Games – 27%
  • Beauty – 27%
  • Toys – 24%

Earn cashback on your Christmas shopping

Whilst Brits are shopping around in the run up to Christmas, TSB is also encouraging customers to shop around and make sure that they’re getting the best deal on their current account.

TSB’s Classic Plus bank account rewards new customers with £5 a month for making payments with their Classic Plus debit card at least 20 times a month until June 20183. Plus another £5 a month just for having two Direct Debit transactions per month3.

And until 4 December 2017, TSB’s popular bank account switching deal is back – offering new customers £130 for switching to Classic Plus via comparison websites MoneySavingExpert, MoneySuperMarket, ComparetheMarket, LoveMoney, Money.co.uk, AOL, BT, Go Compare, Let’s Save Some Money, Money Helpline and Yahoo. Classic Plus also comes with 3% AER credit interest on balances up to £1,5004. All for no monthly fee.

Notes to editors

  • The research was conducted in November 2017 by One Poll surveying 3,000 UK adults that have shopped on Black Friday before.
  • 1 Nearly £300 (£270) on average per person.
  • 2 Based on TSB’s own data.
  • 3 Cashback offer only available for Classic Plus Accounts opened from 1 March 2017. Offer ends 30 June 2018. You must be registered for internet banking. T&Cs apply.
  • 4 Classic Plus - 3% AER / 2.96% gross variable interest (paid monthly) on balances up to £1,500. Must pay in minimum of £500 a month, register for Internet Banking, paperless statements and paperless correspondence.

TSB was built to bring more competition to UK banking and ultimately make banking better for all UK consumers. TSB only serves local customers and local businesses, to help fuel local economies, because communities thriving across Britain is a good thing for all of us.

We have a simple, straightforward and transparent banking model and make clear on our website how we operate and make money. We offer the products and services people tell us they want, with none of the funny stuff people normally associate with traditional banks.

Our five million customers appear to notice: TSB is Britain’s most recommended high street bank and was recently identified as one of the top 10 big companies to work for.

For further information about TSB Bank plc, please visit our website www.tsb.co.uk.

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