The shopping day known as Black Friday will attract more than one third of Irish consumers, with around a quarter of them using the occasion to buy up to half of their Christmas gifts.
A new study on behalf of PwC Ireland shows that the average spend over the Black Friday/Cyber Monday period in Ireland will be €251 per consumer, lower than the UK’s €260 or the rest of the EU at €257.
A separate survey by the Marketing Institute of Ireland shows that a total of €250m will be spent by Irish shoppers on Black Friday.
Research by Opinium Research on behalf of PwC Ireland reveals that 62% of the Black Friday weekend shopping will be online and 38% will be in shops. However, researchers say that while online will be a key shopping platform, store buying remains critical, with value for money and getting a bargain being the most important factors for the savvy Irish consumer.
“With eight out of 10 respondents interested in shopping over the Black Friday/Cyber Monday weekend, it is likely to be an intense shopping period,” said John Dillon, leader, PwC Ireland retail and consumer practice.
Products in most demand are electricals and technology (55%) and clothing, footwear, and accessories (38%). Male shoppers will spend most on electricals and technology (68%), while almost 47% of younger shoppers (18- to 34-year-olds) will spend the most on clothing, footwear and accessories.
“Understanding shopping behaviour is key to winning the sale,” said Mr Dillon.
“With advance research now a key element of everyday shopping, retailers need to be prepared to engage with these customers online, on social networks and in-store. It’s not all about online though, with shoppers still wanting to visit stores. Clear deal communication, stock availability and well-informed store associates can make the difference to creating a superb shopping experience and ultimately winning or losing the sale.”
A total of €250m is forecast to be spent by Irish shoppers on Black Friday— split almost equally between online and retail shops. This is according to the latest Consumer Market Monitor, published yesterday by the Marketing Institute of Ireland and UCD Michael Smurfit Graduate Business School. Online spending is forecast to reach €16bn this year, up 16% on 2018.