£732m spent since Friday

Discounts prove attractive for consumers ahead of Christmas with old records blown apart

After weeks of Brexit and election worries, shoppers’ shackles are off in a record splurge following November pay-day.

More is spent on the Cyber Monday weekend than the days around Christmas itself as Scotland’s bargainhunters blew a record £732 million between Black Friday and today.

The four-day spending total in Scotland from Friday to today, up £24m on last year, is more than the spend in the days before and after Christmas, research shows.

There was £212m spent on Friday in Scotland, with around £170m on Saturday, £85m yesterday and an anticipated £254m today, according to a Centre for Retail Research study for VoucherCodes.

With spending this weekend growing and spend in the days around Christmas slumping, the four-day total since Friday will beat the £680m expected in Scotland across the four days of December 23, 24, 26 and 27.

Experts say retailers fighting with each other to slash prices so early means shoppers keep their wallets closed nearer Christmas due to discounts now – meaning lower profit margins for retailers.

Professor Joshua Bamfield, director of the Centre for Retail Research, said: “Spending from Friday to today is expected to be more than days around

Christmas, with more spending pulled forward to the Black Friday to Cyber Monday period.

“Consumers are savvy and know discounts do not happen just on Black Friday anymore, but on other days also.

“Consumers like to compare prices before buying.

“Stores may even show shoppers competitors’ online prices, but many shoppers find buying online easy.”

The Financial Conduct Authority said Black Friday weekend spending is even higher than the Panic Saturday final weekend before Christmas Day.

The FCA said: “Data based on over a billion customer transactions shows the UK spends more during the Black Friday weekend than any other weekend of the year.”

VoucherCodes said: “Black Friday weekend has exploded in popularity since 2013. Its popularity shows little sign of waning.”