1 in 4 young people regret what they bought last Black Friday
- Over a third of Brits overall and 50% of women feel stressed or anxious after an impulse purchase; an alarming statistic in the run-up to Black Friday and Cyber Monday
- Over a quarter of 18-34-year-olds purchased an item on Black Friday last year that they now regret
- A third of women aged 25-34 wish their partner spent less money in the run-up to Christmas
- Despite this, almost half of Brits plan to purchase their Christmas shopping this year on Black Friday
HMD Global, the home of Nokia phones, today announces the results of a survey it conducted into the UK’s buying habits in the run-up to one of the biggest shopping days of the year. The results expose the effects Black Friday deals can have on impulse shopping decisions and the need for shoppers to buy responsibly – for the benefit of both their pockets and mental health.
Research conducted by Nokia phones reveals that only 14% of the British public can claim never to have made an impulse purchase. For the large proportion that did, the ramifications of this can be considerable. The research showed that over half of the women surveyed feel stressed or anxious after an impulse purchase, with younger people impacted the most emotionally. Furthermore, a third of women (33.5%) aged 25-34 wish their partner spent less money in the run-up to Christmas, suggesting the times of buying something without due consideration could soon be over, as it adds unnecessary stress.
Despite this, almost half of those surveyed (49%) plan to purchase their Christmas shopping this year on Black Friday, with this figure rising to 62% of 25-34-year olds across Britain. This follows the trend of previous years, with two-thirds of the public surveyed having bought something on Black Friday in the past, as consumers hit the high streets in the hope of benefitting from the discount deals offered by brands. However, whilst some deals give instant gratification, they can be short-lived.
Lisa Higgins, Business Manager, HMD Global said: “In the UK, we love a bargain. Black Friday is a great way to cut down costs in the run-up to Christmas and with many choosing to buy technology during the period, it is important that we spend our well-earned cash on devices built to last. Too many people regret their Black Friday choices and end up feeling stressed. This year, we encourage consumers to buy responsibly by investing in products that aren’t disposable, are long-lasting, keep getting better over time, and aren’t just another impulse buy they might regret. For devices we use every-day, like mobile phones, this is crucial. That is why we invite shoppers to buy a Nokia phone this Black Friday and feel confident they can miss the sales until 2022 with a phone guaranteed to perform better with time for a minimum of three years.”
Buy now, regret later
The survey showed that nearly a third of 25-34 year olds (32%) claim they’ve bought something they don’t need on Black Friday. Furthermore, over a quarter (28%) of 18-34 year olds purchased an item on Black Friday last year that they now regret.
When asked why it was a regrettable purchase, 30% claimed it was because it didn’t look like the picture (an issue strongly felt by 45% of 25-34 year olds). Additionally, 30% of British men said that their purchase broke, and a fifth (20%) of the public said their item was of bad quality. A significant factor though for UK shoppers is that the item was an impulse buy.
Binning throw-away culture
As the focus on sustainability becomes ever more prominent, there is a clear demand from consumers to shift away from the throw-away culture of products, especially the ones we use every day, like our smartphones.
Many people get locked into upgrade cycles and research shows that Brits notice their smartphones stop performing as well before their contract is up. As more people move to SIM-ONLY contracts, they are holding on to their smartphones for longer and they need quality, reliability and, in today’s world, security.
The survey also showed that, on average, the British public expect to spend £112 each across Black Friday and Cyber Monday but that they are willing to pay over £150 extra for a phone that would guarantee them 3-years’ worth of security updates, warranty and software upgrades with all the useful innovation.
Nokia phones are accommodating this new trend by creating futureproof phones. Being the number one brand for security and software updates, Nokia phones just keep getting better with time, allowing you to miss the next two Black Fridays with a phone bought today.
Tech that stands the test of time
Many people fear the process of changing to a new mobile phone, with more than half (55%) of women in the UK dreading the admin involved. It is unsurprising therefore that 71% of the British public wish their phone had a longer lifespan (78% of 25-34 year olds), and that a quarter of women surveyed wished their phone would last over three years.
Mobile phone contracts are meant to offer you the latest device in a way that is affordable due to monthly payments, but only a fifth of those surveyed said that their mobile phone contract made them feel at ease. Even more worryingly, a quarter of 35-44 year olds feel trapped by their contract.
This is because many devices don’t last, meaning the consumer doesn’t get a good deal. Over a third (34.8%) of those surveyed (and 41% of the women asked) said their phone slowed down before their contract had ended. Additionally, a third also noticed issues with the performance getting worse over time and 38% of 18-24 year olds said their battery died.
The Nokia phones portfolio is comprised of smartphones that just keep getting better, with a promise of looking after customers long after the sale has been made with 3 years of guaranteed security patch updates and OS upgrades, meaning your phone gets better over time.