Black Friday and Cyber Monday are predicted to attract over half of British consumers when they get underway on November 24.
New research from Barclaycard has found that 58% of Brits plan to buy goods during the sales, with one in five (22%) putting money aside in order to do so.
Fashion retailers are set to be the big winners this year, with 45% of those planning to spend in the Black Friday or Cyber Monday sales eyeing up clothing, footwear and accessories.
The value-seeking behaviour is being driven by months of consumers ‘feeling the squeeze’ of rising prices and stagnating wage growth, with six in ten respondent saying they are getting less for their money than they did three months ago, Barclaycard said.
But despite their big spending plans in November, many consumers are planning a more modest Christmas this year, with 41% saying they intend to spend less than they did in 2016.
Retailers have been urged to start capacity-testing their websites now in preparation for Black Friday and Cyber Monday.
Research from Qubit, which analysed more than 50 million visits from 120 UK and US retailers, found that compared to a normal Friday, Black Friday traffic was up 220% in 2016, while Cyber Monday saw an increase of 155%.
With the surge in website traffic seen during the peak trading period, it is critical for retailers to ensure websites are performing to the highest standard to capitalise on site visitors, according to specialist eCommerce systems integrator, Tryzens.