While this year’s Black Friday (25th November 2022) is expected to be the biggest ever, new YouGov research shows that more than half (52%) of respondents don’t believe the offers and deals are genuine discounts.
And four out of ten (41%) in a survey commissioned by price comparison site Price Runner think most of the discounts feel like fake deals.
Regionally, Londoners are the most trusting of the deals (47%) and Scots the least (59%). The Welsh are the most likely to compare the price of a product on different websites, with almost two-thirds (63%) admitting to doing so when they don’t trust an offer. Welsh people are also most likely to use a price comparison website to check up on deals.
A third of Brits are planning to buy discounted products during this year’s Black Friday sales, with the majority of bargain hunters (38%) planning to spend up to £100 on items and a quarter aiming to spend between £101 and £500.
According to PriceRunner consumer expert Evelina Galli, planning is key when approaching Black Friday:
“Our research shows that Black Friday is an important opportunity for many consumers to buy products and services at a great price.
“But with bargain hunters having a clear idea of how much they plan to spend, it’s important to plan in advance – write a list and stick to it, to avoid buying things you don’t really need or spend over your budget just because they’re on sale.”
The YouGov research revealed more than half (52%) have purchased a product on sale that they ended up never using. And the same number believe it encourages people to buy things they do not need.
More than half (57%) choose to use a price comparison website when buying discounted products during Black Friday and a quarter even go as far as comparing prices by physically visiting shops themselves (24%).
Continues Evelina Galli: “During the current cost of living crisis particularly, you’d expect consumers would be keen to get the best deals possible during the Black Friday promotional period. But some people are suspicious of the types of offers being presented to them, even calling them ‘fakes’.
“Whilst we always encourage consumers to be a bit sceptical and do their research before purchasing, we also want to highlight that there are lots of great deals to take advantage of. Last year we saw price decreases of up to 40 per cent in certain categories, so we know there are bargains to be had this Black Friday.
“As ever, our advice is not to feel pressurised into supposed limited time deals – especially when it’s a high cost item – but to take your time and do your research well before making a purchase.
“Data from our own website has shown that not all ‘deals’ are what they seem, with some products actually being cheaper two months ago than they are now under promotion. It definitely pays to be super savvy and compare prices before you buy.”
According to PriceRunner data, on average, game consoles have increased in price by 17% in the last two months and are up 10% on this time last year. Game controllers are also nearly 12% more expensive on average now than they were two months ago.
Toiletries, jewellery and skincare products are now on average 11% more expensive than in September this year. For parents looking to buy toys for their children this Christmas, they should be prepared to pay on average 10% more than they would have two months ago – and 20% more than the same time last year.
Black Friday 2022: PriceRunner UK Price Differences for Key Categories – last 2 months vs last 12 months.
PriceRunner has also revealed the most popular types of products in the two weeks before Black Friday 2021 – and the top 20 items chosen by visitors to its price comparison website during the same period.