Consumers are wary of Black Friday deals but will still spend more than ever before

Online scams threaten to undermine mega-sale events like Black Friday, with cautious consumers wary of rip-offs.

But shoppers are still expected to spend more than ever before this year, an estimated average of €431 per shopper compared to €343 in 2023. Ahead of the traditionally busy sales period that includes Black Friday, Cyber Monday, and Christmas shopping, new research shows that most consumers do not trust even honest deals.

This is revealed in the latest report from the Competition and Consumer Protection Commission (CCPC). It found that only 36 per cent of consumers intend to shop in this year's sales and just 30 per cent of consumers believe that the discounts displayed by businesses are genuine.

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The CCPC has encouraged consumers to plan before they shop, create a list, stick to a budget and check companies’ return policies. Its research also found that women are more likely to make a purchase. A CCPC spokesperson warned businesses that it will not allow them to mislead consumers.

She said: “Overall interest in Black Friday and Cyber Monday sales shopping has significantly decreased from last year. Only 36 per cent of respondents expect to make a purchase in the upcoming sales period compared to 45 per cent last year.

“Less than a third (30 per cent) of consumers trust that discounts displayed by businesses are genuine. However, Black Friday sales shoppers expect to spend more with the average expected spend up to €431 compared to €343 in 2023.”

The CCPC said special offers and discounts can influence consumers into making purchases they wouldn’t normally make. Some 45 per cent of research respondents reported making an unplanned purchase during a sale and regretting it afterwards, according to the Commission.

Its communications director Grainne Griffin said: “We know that time-bound discounts and special offers can really tempt consumers into making purchases that they wouldn’t usually make. While numbers are down, over one-in-three consumers are planning on shopping in the upcoming Black Friday sales, with most of them making a start on their Christmas shopping.

“We strongly encourage consumers to plan before they shop, create a list, stick to a budget, and check companies’ return policies.”

Intention to shop in this Black Friday sales reverts to the level measured in 2022 with 36 per cent expecting to make a purchase in the upcoming sales period, according to the CCPC. Average anticipated expenditure amongst Black Friday shoppers is higher than in 2023, with shoppers planning on spending €431 on average.

While most shoppers intend to use their debit card to make their purchases during the sales, cash remains an important payment method, most notably for 15 to 24-year-olds.

New regulations on sale pricing were introduced in Ireland in November 2022. Aiming to increase transparency and ensure that discounts are genuine, the regulations require retailers to show discounts compared to the prior price. The prior price is the lowest price the product was on sale for in the previous 30 days. Businesses that do not comply are subject to enforcement action by the CCPC.

Griffin said: “Consumers should also take particular care when shopping online, making sure they buy from well established businesses based in Ireland or elsewhere in the EU. There are very strong legal requirements on businesses when displaying discounts. They must be genuine and clearly show the consumer the prior price.

“References to ‘recommended retail price’ or RRP cannot be used to mislead consumers into thinking that a product has been discounted.”

She warned that younger consumers are more vulnerable and urged them to do their research before parting with their cash. Grainne said: “Young people are more likely to shop in the sales, more likely to trust advertised discounts, and less likely to do research about prices which may make them vulnerable to fake discounts.

“Those consumers, who were surveyed, plan to avoid using credit as their preferred method of payment. Debit card was the most popular overall (84 per cent), while the likelihood of using cash highest among 15 to 24-year-olds. This year, the gender gap is much wider (14 points) than in previous years with women much more likely to make a purchase (43 per cent).

“Almost 80 per cent of Black Friday shoppers plan on researching the advertised discount of the item before buying, with those over the age of 45 most likely to do some research.”

Around two-in-three of all consumers reported being aware of the rules for the display of discount information. Under consumer law, retailers must provide the prior price when displaying a price reduction. They must also base any discounts, such as an amount or a percentage off, on this prior price. The prior price is the lowest price applied to the product at any time in the 30 days before the discount begins.

Grainne continued: “Consumers can’t shop around unless prices are clear, accurate and easy to compare. While we encourage all consumers to be mindful of sales prices, traders have a duty to ensure their prices are displayed clearly and reflect honest and genuine discounts.

“The CCPC will not allow businesses to mislead consumers into thinking that they are getting a better deal than they actually are.”

The report was conducted by the Competition and Consumer Protection Commission (CCPC) in collaboration with Ipsos B&A in October 2024. It was based on 1,032 interviews with consumers, aged over 15, in Ireland.

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