Black Friday is almost upon us and shoppers will hit the high street in their thousands to grab a bargain – or will they?

There are fears that Brexit and the upcoming General Election have taken the spotlight away the annual event, but is that true for you?

If Black Friday has passed you by completely, you may be wondering what it is and how it all began.

Black Friday follows Thanksgiving Thursday in America – which takes place on the fourth Thursday in November - and heralds the start of the Christmas shopping season for our friends across the pond.

But in recent years the event has really caught on here.

But will Brexit and the election affect this year’s sales?

Research by TopCashback.co.uk suggests they might.

The cashback shopping site found that while consumers are willing to spend more this year – £437 compared to last year’s £413 – they are expecting to save less.

Three in 20 (15 per cent) Brits say Brexit has impacted the way they intend to spend this Black Friday. While over a third (34 per cent) will be tightening the purse-strings, nearly a fifth (18 per cent) are wanting to stock up on certain sale products in case they can’t get their hands on them next year.

As a result of the impending election, nearly a fifth (18 per cent) of consumers will be shopping differently this year.

While 28 per cent will spend less, the same number of consumers will be spending more. Of those who plan to spend less, more than three-quarters are worried about the financial uncertainty the general election brings.

Interestingly, more than half (51 per cent) of those planning to spend more this Black Friday due to the election, believe retailers won’t be able to afford better deals and offers after the election so are willing to spend now.

Adam Bullock, UK director of TopCashback.co.uk, said: “This year, more than in previous years, Black Friday will be a crucial time for retailers given the turbulent times and financial troubles many retailers are experiencing.

"We’ve already seen multiple retailers launch their Black Friday sales and they are expected to last beyond Cyber Monday, as companies are keen to drive pre-Christmas profits.

“While it’s reassuring to see the political uncertainty and an imminent general election hasn’t put all shoppers off, retailers are going to have to work hard for consumers’ money as they are determined to spend wisely and layer as many saving methods as possible.

"Last year we saw over £56 million being spent through TopCashback during the Black Friday period, meaning on top of the savings offered by retailers, we helped our members save £3.8 million. We expect to see even more people turn to cashback this year as a way to save even more money.”