00:00 We say Black Friday but actually we mean that whole month, the whole Black Friday period
00:05 when there are deals and discounts. So 20% of us are spending more this year than last,
00:10 which is a lot. That's crazy. But I think there's a dip in retail sales in September,
00:16 which is unsurprising given the economy and everything that's going on in the world. And
00:22 I wonder whether people are saving up for Black Friday. Who knows?
00:27 Lucy is a retail expert at SAP Amarsis and this year they've put together their Customer
00:32 Loyalty Index for the third time. It reveals how savvy shoppers are eyeing Black Friday
00:37 deals to make big savings and just how much we plan to spend during the festive shopping
00:41 season compared to previous years. Surprisingly, despite the cost of living crisis continuing
00:47 to decrease household budgets and putting a cap on non-essential spending, around a
00:51 fifth of us are looking to spend more over the festive period this year compared with
00:56 last. 27% to be exact are going to buy their Christmas presents on Black Friday or during
01:02 that period, which seems pretty sensible. I think many people are not going to spend
01:09 at all, which is very sensible of them. But I think people we surveyed are certainly being
01:15 very good at researching a particular big ticket item and waiting for that moment when
01:21 they can get the real bargains. But it's not necessarily a great thing for brands to
01:28 only offer discounts. As we are coming up to that big shopping period,
01:32 how can consumers make sure they are getting a good deal? And do you have any tips for
01:36 that shopping around experience? Yes, absolutely. So I think I'd mentioned
01:43 before, sign up to stuff. If you've got a favourite store or shop that you are pretty
01:48 sure you want to buy something, make sure you're signed up to their emails or newsletter
01:53 or anything. If they offer a competition, that's worth entering. Just things like that.
02:01 You will get the best deals then. And not necessarily discounts, but also stuff like
02:06 being a VIP member, getting elevated service from them. Also just do your research. I know
02:12 there are some shops or some retailers guilty of perhaps raising their prices or having
02:18 elevated prices throughout the whole year. So is that really a discount? And so that's
02:24 a matter of just actually going into the store and checking if you're on foot or just looking
02:28 online and just keeping it. And there are certain websites that you can check prices
02:33 against each other as well. The data uncovered in the index suggests shoppers
02:36 are spending less in the clothes and entertainment sectors and more in food and drink, suggesting
02:42 budgets are only stretching to essentials. Lucy says it could mean many won't spend on
02:47 Black Friday at all. Maybe not everybody's going to shop at Black
02:50 Friday and I don't want people to feel like they have to. I know there's a lot of talk
02:56 about it and people get very excited and very caught up in it. But yeah, it's best to just
03:01 stick to what you've planned to buy or not at all.
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