Irish consumers plan to spend €329 around Black Friday

Irish consumers plan to spend €329 each over the period of the upcoming Black Friday and Cyber Monday weekend.

That is higher than the planned spending by all other European countries that were surveyed by PwC in its Black Friday research.

A fifth of consumers here said they would spend at least €500 or more.

Nearly two thirds of consumers said they would likely go bargain hunting over the period and purchase at least one item.

Over a third said they would spend more than they did last year, with higher prices and the hope of getting good deals both factors in that.

Nearly half plan to spend the same and 18% will splash less cash, the survey of 2,000 Irish consumers found.

Among the reasons that some will spend less is caution about spending, reducing the number of things they own and believing they will not get a genuine deal.

77% of consumers said it is important that they can shop both online and in bricks-and-mortar stores during the Black Friday and Cyber Monday period.

Over half said the will have the items delivered to their home but in-store shopping remains important, attracting 37% of spend.

"While consumers are more likely to purchase online over the Black Friday weekend, the importance of an omnichannel approach remains, with a significant number of consumers still preferring in-store shopping," said Owen McFeely, Director, PwC Ireland Retail & Consumer Practice.

"These in-store shoppers create a real opportunity for retailers to deliver excellent in-store service, build trust and deepen their relationships with these shoppers," he added.

Irish consumers tend to take targeted approach when shopping over Black Friday.

Over half said last year they had a product or a list of products which they were intending to or interested in buying while over a third said they buy on impulse.

The most popular category bought on Black Friday is electronic devices, with 41% of consumers targeting their spending at these, followed by clothes, shoes and accessories, and health and beauty.

Sustainability is also becoming more important around Black Friday and Cyber Monday, with 38% of consumers saying that they will only buy products that they need and 28% trying to avoid impulse buying.

Almost one in five said that they will avoid 'fast fashion’.

"The survey also highlights that consumers have become more demanding," said Mr McFeely.

"Customer service, product availability and strong promotional value are key to winning the hearts and minds of Irish shoppers," he said.

"Retailers who understand the customer purchasing journey and allow the shopper to engage seamlessly across both online and in-store shopping channels will be the winners in 2024," he added.