Black Friday shoppers could boost their savings by doing one simple thing this weekend
Black Friday bargain hunters pocket an average of £132 by dedicating over an hour to hunting down the best offers before making a purchase, according to research, and those who get organised this weekend could save considerably more.
Research involving 2,000 adults revealed that 78% will be getting ready in some way ahead of next week’s big retail event. More than two thirds say Black Friday is important to them as it helps save money on items they actually need. And judging by the typical savings from last year’s event, people are pocketing over £2 for every minute they invest in planning.
Currently, shoppers spend an average of 66 minutes investigating and weighing up offers to maximise their Black Friday savings. They will use a range of strategies such as tracking down voucher codes (23%), utilising price comparison websites (21%), and purchasing via cashback platforms (20%) to stretch their budgets further.
With boosted cashback percentages on offer throughout the weekend, TopCashback, which carried out the research, predicts its members will save approximately £4 million between Black Friday and Cyber Monday.
Given that so many are already getting prepared beforehand, the weekend leading up to the sales has emerged as a vital period for shoppers to sort themselves out.
Adam Bullock, UK director at TopCashback, said: “A little preparation goes a long way, which is why we’re encouraging people to make the most of ‘Prep Sunday’.”
For a more relaxed shopping experience, Adam recommends using this Sunday to set your budget, compile a list of essentials and identify where cashback offers are available.
He added: “For those doing Christmas shopping this year and have yet to start, this is the perfect time to get organised and make every pound go further.”
The research revealed Millennials are set to take greatest advantage of Black Friday with an average spend of £650 this year, whilst Gen Z estimate they’ll spend £553 and Boomers £321.
Shoppers typically purchased four items during previous Black Friday events and are planning to adopt the exact same strategy this year.
A fifth (22%) believe it’s the best sales period of the year, with 36% getting excited for the shopping day, compared to just 16% who feel the same about the January sales.
For a second consecutive year, Topcashback is partnering with Britain’s Coupon King, Jordan Cox, who has shared his top tips to help shoppers maximise Black Friday savings.
TOP TIPS FROM JORDON COX:
1. Stack your savings
Black Friday is one of the few times you can combine multiple discounts. Newsletter codes, retailer promotions, and bonus cashback rates can often be stacked together, so check to see if you can shave £10s or even £100s off big-ticket buys.
2. Use price promises to your advantage
Many major retailers now offer price-promise guarantees, meaning if something you’ve bought drops further on Black Friday, you can claim back the difference. It’s worth checking websites on the day, as competition can push prices even lower.
3. Compare before you commit
The same product can vary widely in price across retailers, especially in November, so a quick comparison across different sites helps ensure you’re getting the best deal – why not use ‘Prep Sunday’ to compare before you commit? Once you’ve found the lowest price, check whether you can earn cashback on top.