Last year I asked whether Black Friday was good for British retailers. This year I’m wondering whether it’s good for consumers. Are we really getting the best deals of the year or simply tricked into spending more in one single day? 

In the run up to Black Friday, consumers are bombarded with billboards, adverts, and emails – all offering “huge discounts” and “unmissable deals”. And it's effective – the amount we spend on Black Friday has increased year-on-year since its UK inception around 6 years ago (with consumers expected to spend £2 billion).  

On the surface, it seems great: consumers are able, for one day only, to purchase goods at remarkably low prices – and just before Christmas, too. However, this year, many are calling Black Friday a sham.

Which are advising consumers to do their research before splashing out on a Black Friday purchase this year. According to them, about one in ten (12 percent) of deals were cheaper at some point leading up to Black Friday, and four in 10 (38 percent) were cheaper in the weeks after Black Friday last year. In fact, only 8 percent of deals were one-day offers where the Black Friday price was cheaper than any other day.

That doesn’t really seem to match the perception of Black Friday as a shopping bonanza in which many of the best deals of the year are available. So what’s going on?

Whilst many retailers involved in Black Friday have disputed Which’s research, it seems apparent that much of Black Friday’s appeal comes from the hype surrounding it – not the deals on the day.

I argued last year that Black Friday damages retailers by reducing demand in the run-up to Christmas, allows consumers to cherry pick deals from multiple retailers, and, in the words of Tony Shiret, makes retailers “…give away a load of stuff and screw up their Christmas”. This year, it seems, the retailers have turned this model on its head –  at the expense of consumers.

By continuing to spread the message that Black Friday is the best day to bag a great deal, without actually offering those deals, retailers are able to benefit from the hype of Black Friday without suffering the consequences. And that doesn’t seem fair.

One clear winner out of Black Friday is mobile - with $1.2 billion of purchases being made on mobiles and tablets in the US.

This makes history as it becomes the first billion-dollar mobile shopping day in the US. 

What do you think? Is Black Friday good for consumers?

Email me your thoughts.