Nationwide issues payment alert for millions of shoppers ahead of Black Friday

Nationwide shoppers expect to spend £103 on Christmas gifts for each loved one this year. But many are trying to keep costs down, with more than a third planning to spend less than last year.

Gift budgets vary sharply by age, with 45 to 54-year-olds expecting to spend the most. Yet this group is also the most likely to cut back, highlighting the pressure on festive spending.

Those aged 45 to 54 plan to spend around £119 per loved one, compared with £116 among 25 to 34-year-olds and £115 for those aged 35 to 44.

Over-55s expect to spend £90 per person, while 18 to 24-year-olds have the lowest planned budget at £87, according to Nationwide’s research.

Across all age groups, 36 per cent expect to spend less on gifts than last year, including 12 per cent who predict a significant reduction. Among 45 to 54-year-olds, 42 per cent plan to cut back.

Mark Nalder, payments director at Nationwide, said: “Christmas remains one of the biggest spending moments of the year, but our research shows many households are planning ahead, starting their shopping now two paydays ahead and taking a careful approach to managing costs.

“From setting budgets to using loyalty rewards, people are looking for practical ways to make their money go further.”

One in seven worry about being able to afford Christmas at all.

To manage the cost, 26 per cent intend to set a firm budget, 24 per cent will use loyalty points or rewards, and 23 per cent plan to reduce spending on themselves.

Early November is the most popular time to buy the bulk of Christmas presents, with 25 per cent favouring this window, around two paycheques before Christmas.

Despite efforts to budget, Nationwide expects a busy Black Friday, forecasting 12.8 million transactions on the day, roughly eight per cent more than in 2025.

Almost 44 million transactions are expected across the wider sales period, a nine per cent increase on last year.

Saturday is forecast to generate 11.2 million transactions, up six per cent. Cyber Monday could see the biggest increase, with transactions rising 18 per cent to 11.1 million.

However, 42 per cent of consumers say they will not shop during the Black Friday or Cyber Monday sales. Among over-55s, that figure rises to 62 per cent.

Views on the value of the sales are also divided. While 32 per cent believe Black Friday offers the best bargains, 31 per cent say no sales event offers particularly good value.

Just five per cent consider Cyber Monday the best time for deals.

Mr Nalder said Black Friday “remains a huge shopping moment”, despite many consumers questioning whether it consistently offers the best value.

Christmas presents remain the most popular planned purchase during the two sales events, with 35 per cent intending to buy gifts for family or friends.

Another 22 per cent plan to buy items for themselves, while 20 per cent expect to purchase household essentials or bigger items for their homes.

Younger shoppers are particularly likely to treat themselves, with 35 per cent of 18 to 24-year-olds planning purchases for personal wants or needs.

Clothing and accessories top the Christmas gift list at 28 per cent, followed by food and drink gifts at 26 per cent, gift vouchers at 22 per cent, toys at 21 per cent and electronics at 18 per cent.

Electronics are favoured by 27 per cent of 35 to 44-year-olds, compared with 10 per cent of over-55s.

Nationwide has also relaunched its FlexDirect current account, offering customers up to £120 in cashback during the first year, alongside five per cent interest on balances up to £1,500 for 12 months.