Irish shoppers look set to spend significantly less during this year’s Black Friday sales than they did last year, with new research showing almost two thirds of consumers have regretted their purchases in previous years.
A Competition and Consumer Protection Commission (CCPC) study shows there is a high levels of distrust of the deals on offer during the pre-Christmas sales window, but that 39 per cent of respondents would still splash out.
The research shows the anticipated spend during the sales period, which is barely a decade old, has fallen significantly in the past year. Consumers said they were likely to spend an average of €334 this year, down from €431 in 2024.
The power of social media continues to grow, with 28 per cent of those likely to make a Black Friday/Cyber Monday purchases saying they are led by influencer recommendations. This rises to 40 per cent among people aged 15 to 24.
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Some 60 per cent of people who have previously made an unplanned sales purchase have regretted it, the research found, with 63 per cent saying do not believe the advertised discounts are legitimate.
Trust is higher among younger people, with more than half of shoppers aged under 24 saying they have faith that the prices on display are a true reflection of the discounts on offer.
Almost three quarters of consumers surveyed by Ipsos B&A last month as part of a nationally representative sample of 1,034 people admitted to making an unplanned purchase during a sale.
Some 93 per cent said they had been convinced to buy by the actual price of a product during a sale period, with 83 per cent saying the size of the discount was the deciding factor.
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A further 64 per cent said they were influenced by the limited timeframe of the sale price.
“We know that sales like Black Friday and Cyber Monday can put consumers under pressure to make fast purchasing decisions that they may not want to make,” said the CCPC’s director of communications Grainne Griffin. “This can often lead to them spending more than they intended or buying something that they will later regret.”
She said the CCPC “strongly encourage consumers to stop and think before they rush into making a purchase”.
“Make a list of what you need, create a budget and stick to it.”
Ms Griffin urged consumers who see recommendations from social media influencers to keep an eye out for advertising labels on posts and to do their own research before making a purchasing decision.
“Influencers must make it clear if their posts are commercial in nature must not mislead the consumer,” she added.
