Britons set to lead Europe in Black Friday spending spree

BRITONS will top the European spending league on Black Friday and in the run-up to Christmas, shelling out an average of £567, researchers predicted yesterday.

That is 42 per cent more than the European average of £400.

The UK will be also be doing more shopping online on Friday and through December than other nations, a study found. An estimated £299 of the £567 will be spent on gifts, £151 on food and drink, £66 on socialising and £51 on travel.

The research, by accountants Deloitte, suggests £240 will spent through websites – over 40 per cent of the total and much higher than the average 31 per cent for the rest of Europe.

The findings are based on a survey of more than 9,000 people in ten European countries. Deloitte predicts retailers will be involved in a cut-throat battle for a share of spending when the season kicks off on Friday – November 23.

A host of retailers, including Amazon, Argos, Currys PC World, John Lewis, House of Fraser and Debenhams, are already running deals.

Deloitte said the £567 figure is about the same as last year. The Black Friday event – which sees retailers offer big discounts on some products – has brought forward the Christmas shopping peak to the end of November.

The Deloitte study found 53 per cent of people plan to do most of their shopping by the end of November while just 12 per cent expect to wait until the week before Christmas.

Ian Geddes, of Deloitte, said: ‘ The retail industry needs to be prepared for what will be a fiercely competitive Christmas shopping period.

‘The divide between the industry’s winners and losers will likely be bigger than ever before.’

He added: ‘ When it comes to online shopping, the UK is head and shoulders above the rest of the continent.

‘Such a contrast is not surprising considering that the UK online retail market is the most mature in Europe, accounting for one-third of the total European online sales.’

He stressed: ‘ Growth in UK online sales continues to be in double digits. They now account for nearly 18 per cent of total UK retail sales.’