Personal finance

Black Friday: Expected average spend revealed as sprees on the cards, but shoppers also wary of deals

Consumers are set to shell out an average of €400 on the Black Friday and Cyber Monday sales, but huge numbers do not trust the accuracy of claimed discounts.

lack Friday, which is on November 25, has grown into one of Ireland’s biggest sales bonanzas on the calendar over the past few years.

Almost four out of 10 consumers plan to take advantage of the sales events in the hope of bagging a bargain, according to research commissioned by the Competition and Consumer Protection Commission (CCPC).

It found that those consumers expect to spend an average of €400.

But more than half of those surveyed do not trust the accuracy of advertised discounts.

When responses from all consumers are considered, including those who don’t intend to buy in the sales, trust rates fall further.

Only a third of consumers trust the accuracy of displayed pre-sale discounts when all consumers are counted.

Trust levels are highest among young people, while those aged over 55 report the lowest levels of trust in advertised discounts.

The surveyors found that eight out of 10 consumers plan to research the displayed discount before buying.

The numbers intending to do some research are highest among the 45-plus age group, and lowest among 15 to 24s.

Electronic goods are set to be the most popular purchase in the Black Friday sales, with an average expected spend of €502.

Clothing, footwear and jewellery were the next most sought-after items, with just over half of under 25-year olds planning these purchases, the CCPC-commissioned research found.

Discounts play a big role when consumers are deciding whether to make a purchase, despite low levels of trust in discounts.​

CCPC director of communications Gráinne Griffin advised consumers they have stronger consumer rights when they buy from an EU website and a ‘.ie’ domain is not a guarantee that a company is based in Ireland.

Consumers should shop around to compare offers, and focus on selling prices rather than advertised discounts.

Source: https://www.independent.ie/business/personal-finance/latest-news/black-friday-expected-average-spend-revealed-as-sprees-on-the-cards-but-shoppers-also-wary-of-deals-42141956.html

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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