Irish people are more engaged with Black Friday and Cyber Monday shopping than peers across Europe, according to a report by PwC.
Around two-thirds of Irish consumers say they are likely to go hunting bargains next weekend, in line with European norms. But with expected spending of €329 on average, they will spend close to a fifth more than the average across five countries surveyed by the consultants and more than shoppers in any of the other countries.
One in five Irish shoppers say they expect to spend at least €500, compared to one in seven across the study.
They are also more likely to increase their spending over last year, with 36 per cent saying they expect to do so compared to a Europe-wide average of just three in 10.
PwC spoke to 2,000 Irish consumers as well as a similar number in Germany, France, Italy and Turkey for the study.
The report’s findings run counter to those in a Competition and Consumer Protection Commission report published last week. It found that Irish shoppers were losing interest and trust in Black Friday and Cyber Monday sales, with just over one in three expecting to go shopping and just three in 10 trusting that discounts displayed by businesses are real.
John O’Loughlin, leader of PwC Ireland’s retail and consumer practice, said Black Friday/Cyber Monday remained an attractive shopping event “that has become an integral part of the Irish consumer landscape”.
“Many Irish consumers will look to avail of good deals and do a large part of their Christmas shopping during this shopping period. Understanding how Irish shoppers engage with both the store and online creates the opportunity for retailers to shape product and promotional strategies in a way that will resonate across this Black Friday weekend,” he said.
But not everyone is planning to splurge. Close to half (46 per cent) say they are budgeting to spend the same as last year, with nearly one in five saying they expect their Black Friday weekend spending to be lower. One in five Irish shoppers say they will rely on a buy now, pay later service to fund their purchases.
Electronic devices remain a particularly popular target, with four in 10 Irish consumers expecting to spend the majority of their Black Friday budget on electronics or technology items. Clothes, shoes and accessories come next, followed by health and beauty goods.
While over three-quarters of shoppers expect to see offers in store and online, more than half of people’s Black Friday budget is spent on online purchases that are delivered to their home.
Despite the enthusiasm for what was originally a feature of the US retail calendar, Irish consumers get frustrated by the experience. More than one in five complain of excessive queues, busy stores and missing stock, while 14 per cent say there is too much advertising of the event in the lead-up to the weekend.
One in five are not confident that they will get a genuine deal – which tends to be classed as a reduction of at least 25 per cent in the price.
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