UK shoppers expected to spend £10bn this Black Friday

Shoppers are expected to spend up to £10 billion in the week of Black Friday, as the UK embraces the US holiday.

The estimate is four percent higher than the same week last year, as more retailers take part in the promotional week.

However, with the increase in inflation and value of the pound, retailers might find it more difficult to deliver discounts.

Eleanor Parr, from retail analysis firm GlobalData, said: “Increased cost prices will mean retailers are unable to offer the level of discounts advertised in 2016, meaning demand may waver as consumers feel less inclined to make bargain purchases on impulse,”

Stores joining in this year’s Black Friday include Amazon (NASDAQ:AMZN) and Currys PC World, who have already started offering discounts to avoid the rush.

Supermarkets Lidl and Tesco (LON:TSCO) will also be joining this year’s discount week. Over 700 of Tesco’s stores will be participating, with a further 187 of its largest outlets opening at 1 am.

Gary Caffell from Moneysavingexpert warned: “There’s a lot of duds out there so do your research. Just because something says it is 70 percent it doesn’t mean it is a good deal. It might be cheaper down the road.”

As the US-inspired day becomes more popular in the UK, shoppers are expected to spend £1.74 million every minute online, according to online trade association IMRG.

Find the massive array of deals overwhelming? Which? magazine editor-in-chief Richard Headland said: “During big shopping events like Black Friday it can be easy to get overwhelmed by discounts, deals and deductions.

“To get the best out of Black Friday, shoppers should do their research, form a plan and stick to it.”

Black Friday is on the 24th November, with many deals starting on Monday.