Black Friday set to attract estimated €109 million spend
21 October 2015 | 0
An estimated €109 million will be spent on Black Friday, up 31% on last year according to a new research by ecommerce partner Webloyalty (www.webloyalty.ie) in conjunction with retail research experts Conlumino. The research which examines spending and shopping trends for Black Friday and Cyber Monday finds that the occasion made popular in the United States, is now a firm date in the Irish retail calendar.
Always falling the day after America’s Thanksgiving celebrations, Black Friday will be held this year on Friday, 27 November and Cyber Monday on Monday, 30 November.
According to the Webloyalty research, some 73% of Irish people say they have heard of Black Friday while Cyber Monday is less well known with just 34% aware of this event. Half (51%) say they intend to shop on Black Friday this year versus 44% last year, while a third will buy goods online on Cyber Monday compared to 23% last year. Almost three-quarters (71%) claim they will buy at least one of their Christmas gifts on Black Friday or Cyber Monday this year.
Of those that made purchases last year, electronic goods were the most popular item (68%) followed by home appliances (45%), clothing, footwear and accessories (45%) and homewares (34%).
However, it seems that Black Friday displaces sales for retailers rather than generating new ones. On Black Friday 2014, 59% say they either brought forward or delayed a purchase they would have otherwise made. The research also finds that shoppers expect significant discounts on Black Friday and Cyber Monday. 64% say they would expect discounts of up to 40% and 16% would expect discounts in excess of 50%.
Commenting on the research, Guy Chiswick, managing director of Webloyalty Northern Europe said, “With attractive discounts a key driver of sales on Black Friday, retailers will need relatively deep discounts or perceived added value to drive footfall in-store on the day.”