40% of consumers plan to make Black Friday purchase
Just under 40% of consumers plan to make a purchase in the Black Friday sales, according to new research from the Competition and Consumer Protection Commission.
On average, these consumers are set to spend €400.
The findings show that over 80% plan on researching the advertised discount of the item before buying, with those over the age of 45 most likely to do some research.
46% of those surveyed are planning to buy electronics, with an average expected spend of just over €500.
Laptops and tablet devices are the most popular electrical items on the shopping list, followed by mobile phones and TVs.
Clothing, footwear and jewellery were the next most sought-after items, with just over half of under 25-year olds planning these purchases.
Despite the fact that many people are planning to buy something in the sales, Grainne Griffin, CCPC Director of Communications said the research shows that consumer confidence in the legitimacy of advertised discounts is very low.
“Only 35% of consumers trust that discounts or pre-sale prices displayed during sales are accurate,” she said.
“Misleading advertising is illegal and consumers should be able to trust in advertised discounts.
“The CCPC looks forward to the upcoming enactment of the Price Indication Directive which will tighten up the rules on sales advertising and empower the CCPC to take enforcement action when businesses mislead consumers through discount advertising,” she added.
Ms Griffin said the CCPC is also encouraging businesses to play their part in building consumer confidence by providing transparent pricing history to consumers during sale periods.