Black Friday shoppers buying what they need, not what they want

For millions of us, Black Friday is a chance to get big purchases like appliances and furniture at knock-down prices. But cost-of-living pressures mean many are relying on the sales event to save money on essentials.

According to research by Rakuten, 50% of Brits see Black Friday to buy what they need instead of what they want, such as:

• everyday clothing - 26%
• new school shoes for their children - 19%
• toiletries - 15%
• cleaning products - 13%

And unsurprisingly, it’s the cost of living that’s partly behind this pattern.

Energy prices weigh heavily this winter

One in three (30%) people say they’re worried about being afford day-to-day costs this winter.

Energy prices are a particular issue, with more than half (52%) saying they’re concerned about paying for gas and electricity in the coming months.

As a result, more than a tenth (13%) are relying on Black Friday offers to buy essentials they’d normally find it hard to afford.

And among those planning a Black Friday purchase, nearly two-thirds (65%) have deliberately put off buying a big-ticket or essential item so they can take advantage of a sale price.

Create a household budget

If you’re struggling to balance essential expenses with seasonal costs like Black Friday and Christmas, it could be worth creating a household budget.

Once you know how much money you’ve got coming in each month and where it’s going, you can ringfence some for essentials and know what you’ve got left to spend on treats and non-essentials. 

Check our guide to how to create a budget to get started.

It’s also a good idea to check our tips on how to avoid getting swept away by Black Friday deals, so you don’t end up spending more than you can afford or buying things you don’t really need.

Speak to your supplier if you’re worried about energy bills

If energy bills are a real worry right now, then contact your supplier as soon as possible, as they might be able to offer payment plans, grants and advice on managing your account.

You can find more information on what support you can get to help with your bills here.