PwC Ireland has today released its latest Black Friday Consumer Insight survey undertaken by Opinium Research on behalf of PwC to explore the nature and spending intentions of Irish consumers over the Black Friday & Cyber Monday shopping period.
Irish shoppers on average are expected to spend €251 over the weekend with this being a mixture of planned and impulse purchases. Online will be a key shopping platform but the store remains critical – value for money and getting a bargain are front and centre for the savvy Irish consumer.
PwC say retailers need to understand how consumers research and shop over the Black Friday weekend whilst also being prepared for high levels of customer footfall.
A third (33%) of survey respondents revealed that they intend to purchase over the Black Friday/Cyber Monday weekend; a further 47% stated that they may purchase if they see a good deal. PwC say this group of potential shoppers provide real potential for retailers to engage with them in a positive manner and the opportunity to build long term relationships.
Nearly a fifth (17%) said that they intend to use the Black Friday shopping period to cut down on the costs of Christmas. According to the survey, one in six consumers are thinking about Black Friday purchasing since mid-October.
The research further reveals that, on average, the Irish consumer will spend €251 over the Black Friday weekend which is broadly in line with other European respondents. Younger shoppers aged 18-34 will spend less (€218) while the 35-54 age group’s spend will be the highest (€281). Products in most demand are electricals and technology (55%) and clothing, footwear and accessories (38%).
Male shoppers will spend the most on electricals and technology (68%); while almost half (47%) of younger shoppers (18-34 year olds) will spend the most on clothing, footwear and accessories.
Commenting on the research, Leader at PwC Ireland Retail & Consumer Practice, John Dillon said, “With eight out of ten respondents interested in shopping over the Black Friday/Cyber Monday weekend, it is likely to be an intense shopping period which from the early Black Friday ads and deals, it is clear that the event has already started. Bagging a good deal is front of mind for shoppers but consumers purchasing decisions will also move beyond price with quality, product range and availability being key fundamentals in building trust between shoppers and retailers.”