The recent Lloyds Bank Spending Power Report states that people all over the UK are ready to set out to grab a bargain this week. Although, by the end of the day, the total savings can reach a substantial level, since one in five are hoping to save an average of £191 on their Black Friday Spending.
Many cities are energetic and enthusiastic like the Londoners, where the 30% will undertake some spending on the day. The people in North West (22%) and Yorkshire and Humberside (21%) are seeking to take advantage. Around just 13% of people in the South West see themselves splashing the cash. On the other hand, the people in Wales (16%) and East of England (16%) are the ones that have less chances of seeking a potential bargains.
It comes with no surprise that advanced technology is a main target for spenders, as these item can be very expensive. Almost half (45%) said they would only purchase electrical goods like laptops and smartphones. In addition to this, 34% stated they would be purchasing bigger items like a television. Also, one in four (24%) are predicted to buy household electrical items such as fridges and washing machines. The savvy shoppers (13%) are expecting to purchase items of furniture and bags and luggage. Moreover, 17% may be looking for a discount on jewellery for a Christmas proposal.
Black Friday is a fairly recent phenomenon in the UK, and it would seem millennials most likely to take part. 37% of 18-34 year olds plan to make purchases on the day, against just 9% of the over 55s. They are also more eager to make their cash go further and grab a bargain, with the average expected saving reported to be £216, against the £153 over 55s believe they will achieve. Interestingly, youngsters are more likely to be purchasing clothes in the sales (47%).
About Stuart Mosley
Stuart Mosley (CeFA, CeMap, CLTM) founded SJ Financial Solutions in June 2005 having spent 12 years with big corporates such as Halifax and Santander. He felt the personal touch and straight speaking was missing from financial and mortgage advice services and set up SJ Financial Solutions to change this.
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