Nationwide issues £123 alert to millions of members
For some, this amount will rise to around £255
Nationwide has issued a £123 alert to millions of its members, with this amount extending to £255 for some. The world's largest 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% rise compared to 2024, which saw 11 million transactions. Nationwide suggests this could result in the highest ever spending for Black Friday, which falls on November 28 this year.
The average Brit planning to splash out during the Black Friday sales 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.
Despite this, nearly four in ten (38%) consumers have stated they do not plan to purchase anything during the Black Friday and Cyber Monday sales. This indicates lower consumer confidence leading up to the festive season, as well as ongoing worries about managing living costs and rising bills.
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Nationwide's study also found that of those preparing to hit the Black Friday sales, over a fifth (22%) are kicking off as early as the start of November, when numerous brands will begin unveiling their early Black Friday bargains.
Nearly a third (30%) have already wish-listed specific items or saved items to their basket, and almost 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.
