People have been deliberately postponing major purchases so they can wait for Black Friday, a survey’s found
Half of savvy Christmas shoppers are waiting two months or more to buy gifts so they can get deals in the Black Friday and Cyber Monday sales.
Black Friday shoppers are taking an increasingly strategic approach to festive spending, with almost half (48%) admitting to waiting two months or more for a specific item in the sales.
Research commissioned by PayPal reveals consumers have been deliberately postponing major purchases, with spending across Black Friday and Cyber Monday estimated to reach £6.7 billion this year.
Of the 2,000 Brits quizzed, beauty and fragrance products top consumers’ wish lists (44%), followed by fashion and trainers (39%) and toys (38%).
Next up are Christmas decorations (30%) and holiday bookings (27%), while larger purchases such as mobile phones (22%), laptops or tablets (20%), games consoles (20%) and smartwatches (20%) also feature on wish lists.
Almost half (45%) of Brits say they are planning to shop the Black Friday and Cyber Monday sales this year.
As households look to balance festive spending with ongoing cost pressures, many are also turning to more flexible ways to pay like PayPal Pay in 3 and Pay in 30 Days.
While debit cards remain the most popular choice for shoppers’ Black Friday purchases (30%), 12% plan to use digital wallets such as PayPal and almost one in ten (9%) intend to use Buy Now, Pay Later services (from any provider).
The research suggests that, as part of the mix of options available to them, consumers are combining discounts with a range of ways to pay in the run-up to Christmas.
To illustrate the purchases driving Black Friday spending this year, PayPal has created a ‘Black Friday Basket’ featuring some of the most popular items shoppers hope to buy during the sales.
The basket also reflects how the event has increasingly become a planned opportunity to make Christmas budgets go further.
Dave Jones, Head of UK Consumer at PayPal, said: “Black Friday has increasingly become one of the biggest moments in the festive shopping calendar as people look for ways to make their money go further.
“Payment flexibility is becoming just as important as finding the right deals and some are considering a range of options, including Buy Now, Pay Later, alongside traditional payment methods.
“Many shoppers want three things – flexibility, value and control. They’re planning ahead and waiting for discounts on the items they want and choosing payment options that fit their budget.
“Whether that’s using a digital wallet, paying upfront or, where it’s affordable, spreading the cost over time, consumers are taking a more deliberate approach to how they shop during the festive season.”
Top 10 categories shoppers say they’re hoping to buy
- Beauty or fragrance (44%)
- Fashion or trainers (39%)
- Toys (38%)
- Christmas decorations (30%)
- Holiday or travel bookings (27%)
- Gaming accessories (25%)
- Headphones or earbuds (23%)
- Mobile phone (22%),
- Other kitchen appliances (22%)
- Laptop or tablet (20%), Games Console (20%), Smartwatches (20%)