Black Friday is an American tradition where stores have incredible discounts and deals for their shoppers. The annual event is always set for the fourth Friday of November.
Since 1952 the US have hosted Black Friday the day after their Thanksgiving celebrations. The day of deals normally kick starts America’s annual Christmas shopping frenzy. The UK have been joining in the event since 2010, where it has grown in popularity.
During the shopping spree businesses see some of their highest profits. This gives the day its name with businesses typically recording any ‘loss’ in red and all the ‘profit’ in black.
This year will see Black Friday falling on 23rd November, and according to a survey for Digital Commerce Platform Kooomo, the peak time for shopping will be 9:22am.
Two-fifths of shoppers in the West Midlands are planning to take time off to bargain hunt for the day. Those who are going to work will browse an average of 18 minutes of work time for deals. To make sure they get the best bargains, 12% of employees will spend up to an hour.
Since 2014, stores have adapted their Black ‘Friday’ sales event by extending the deals for a full week of offers. Most West Midland Black Friday shoppers will spend nearly £600 over the whole sale event.
Only a third of Black Friday shoppers in the West Midlands manage to stick to their buying budget, two-fifths of shoppers make a list before starting their online sale search and a fifth will buy whatever they see at the time.
Ciaran Bollard, CEO OF Kooomo said, “It’s clear that there is an ever-growing appetite for Black Friday deals amongst shoppers. The statistics demonstrate that consumer behaviour has dramatically shifted from offline to online.”
Only 23% of bargain hunters will shop on the High Street with the remainder shopping online via laptops, desktops and phones. The most popular items for buying during Black Friday are tech products, which make up 62% of the overall sales.
Where can you find your Black Friday deals?
Remember to check any deals that you find are good value for money and that you are buying from genuine sites this Black Friday, For consumer advice and support this Black Friday, look at these Which? pointers.