This amount will rise to around £255 for some
Nationwide has issued a warning to millions of its members, with some facing a potential spend of up to £255. The building society predicts that over 12 million transactions will be made on the first day of this year’s Black Friday sales weekend, based on previous data.
This represents a 10 per cent increase compared to 2024, which saw 11 million transactions. Nationwide suggests this could lead to the highest spending ever recorded for Black Friday, which falls on November 28 this year.
The average Brit planning to splash out during the Black Friday sales period is expected to spend £123. However, younger consumers, aged between 25 and 34, are predicted to spend almost double the UK average, at around £255 each.
Gen-Z shoppers are expected to spend slightly less than the UK average, at £119 each. However, nearly four in ten (38%) consumers have said they don’t plan to buy anything in the Black Friday and Cyber Monday sales. This suggests lower consumer confidence leading up to the festive season, as well as ongoing worries about managing living costs and rising bills.
Nationwide’s research unveils that of those planning to hit the Black Friday sales, over a fifth (22%) are kicking off as early as the start of November, when many brands will begin rolling out their early Black Friday bargains. Nearly a third (30%) have already wish-listed specific items or stashed items in their basket, and nearly a fifth (18%) plan to leave items in the basket to see if prices will tumble further ahead of the sales.
Half (50%) of participants reported that they will shop online, and over a quarter (28%) plan to hunt for deals on the high street. Shopping across rapidly expanding e-commerce platforms such as TikTok Shop and Instagram is also a trend for this Black Friday, as nearly a quarter (24%) of consumers plan to shop while scrolling social platforms, and more than a third (34%) will shop direct on retailer apps from phones or tablets.
