Irish consumers plan to spend at least €283 over the Black Friday sales weekend, but the figure is down 14 per cent from €329 last year, a new report from PwC has found.
PwC, which surveyed the intentions of 2,000 Irish and 10,000 European consumers in September and October for the report, said Ireland is still one of the highest spending nations amongst European countries, where the average spend is €268.
The report suggests the Black Friday sales, which run from Friday to Monday, remain popular with 62 per cent of Irish people likely or extremely likely to purchase at least one item over the sales weekend, slightly down from last year (64 per cent).
Indicating more cautious spending habits and less money available, 73 per cent of Irish consumers are planning to spend the same or less compared to last year over the weekend, compared with 64 per cent last year.
READ MORE
Despite economic pressures, 14 per cent of Irish people said they will spend at least €500 over the sales weekend, down from 20 per cent last year.
Nearly a quarter of Irish consumers said they started their Black Friday shopping planning before the beginning of November, up from 20 per cent last year.
How AI is beginning to wreak havoc in the jobs market
Despite this, impulse buying remains prevalent with more than a third (37 per cent) of Irish consumers still shopping on impulse, buying one or more items, which is higher than European peers (30 per cent).
PwC Ireland partner John O’Loughlin said: “The ongoing cost of living pressures, including high food prices, mean many Irish shoppers plan to spend the same or less during the Black Friday sales period.
“Nonetheless, the sales weekend remains a critically important sales period with strong consumer interest apparent. Shoppers are increasingly seeking value, focusing on specific items and the best deals to maximise value for money in the run up to Christmas.”
He added that retailers must prioritise “value and clear communication” across all platforms to engage customers effectively.
“Delivering seamless omnichannel experiences – both online and in-store – and maintaining competitive pricing will be essential to winning customer loyalty in this peak trading period,” he said.
The majority (64 per cent) of Irish consumers favour online shopping with either home delivery (48 per cent), or click and collect (16 per cent).
More than a third (36 per cent) favour in-store shopping, higher than average for European peers (33 per cent).
