Revealed: How much we plan to spend in Black Friday sales

Irish people expect to spend an average of €400 in Black Friday/Cyber Monday sales, despite reservations about the accuracy of discount information. 

The Competition and Consumer Protection Commission (CCPC ) has published its latest Black Friday / Cyber Monday research which has found that just under 40% of consumers plan on purchasing during the upcoming sales, with those consumers expecting to spend an average of €400.

The research found 4 out of 5 people will research discounts.

Insights from the research found that 81% of consumers plan on researching the advertised discount of the item before purchasing, with 18% responding that they would not do this.

Those intending to do some research was highest among the 45+ age group (87%) and lowest among the 15-24 age group (69%).

The CCPC’S research found that 46% of consumers intending to buy in the Black Friday sales are planning on purchasing electronics, with an average expected spend of €502. Laptop or tablet devices stand out as the most popular electrical items that consumers intend to buy (37%), followed by mobile phones (26%) and televisions (22%).

Clothing, footwear and jewellery were the next most sought-after items (35%) with just over half of under 25-year olds planning these purchases.

Despite the high numbers of consumers who intend to shop in the sales, consumer confidence in the accuracy of advertised discounts is low.

Of consumers intending to buy in the sales, 49% stated that they do not trust the accuracy of the discount information provided.

When responses from all consumers are considered (including those who don’t intend to buy in the sales), trust rates fall further with only 35% of consumers trusting the accuracy of displayed pre-sale discounts.

Trust levels are highest among young people (15 -24 years) while those aged over 55 report the lowest levels of trust in discounts.Despite low levels of trust in discounts, they do play a significant role when consumers are deciding to make a purchase.

The research found that most consumers who are planning purchases (65%) said the price of the item would be the most important factor, with 23% saying that the discount is the most important factor.

61% of consumers said the level of discount would influence their decision to some extent.

For 51% of consumers who are planning to purchase, finding a specific product or service is important, while a further 25% said the limited timeframe of the sale would influence their purchasing decision.