Black Friday shoppers save an average of £132 by spending over an hour scouring for deals before buying – but those who use the time between now and next week to prep could save even more. A poll of 2,000 adults found almost eight in 10 (78%) will be preparing in some form ahead of the big day, and as it stands, shoppers will spend an average of 66 minutes researching and comparing deals to make the most of their discounts.
Over two thirds say Black Friday is important to them because it helps them save on something they genuinely need. And based on the average amount saved in last year’s sales, people are saving over £2 every minute they spend planning. The research showed Shoppers use tactics such as finding coupon codes (23%), using price comparison tools (21%), and buying through cashback sites (20%) to make their money go further.
With elevated cashback rates available across the weekend, TopCashback, which commissioned the study, estimates its members will save around £4 million between Black Friday and Cyber Monday.
With so many already preparing ahead of time, the weekend before the sales has become a crucial moment for shoppers to get organised.
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 less stressful shopping experience, Adam suggests using this Sunday to establish your budget, pull together a list of what you need and check where cashback is 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 study found Millennials are expected to capitalise on Black Friday the most with an average spend of £650 this year, while Gen Z estimate they’ll spend £553 and Boomers £321.
People typically bought four items on previous Black Friday events and are planning to take the exact same approach this year.
A fifth (22%) reckon 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 year running, the Topcashback is working with Britain’s Coupon King, Jordan Cox, who has shared his top tips to help shoppers make the most out of Black Friday.
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.
