New research released today by Webloyalty, shows that Irish consumers will spend an estimated €109 million on Black Friday up 31% from last year.
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.
Seventy three per cent 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%).
Managing Director of Webloyalty Northern Europe, Guy Chiswick said, "Black Friday and Cyber Monday are a relatively new phenomenon in Ireland and the UK but it’s evident from the research that both are continuing to rise in popularity with shoppers. Black Friday spending in Ireland is set to rise by almost a third this year.
"This is largely down to more people shopping thanks to growing consumer confidence and more spend on big ticket items on that day such as electronic goods. With attractive discounts a key driver of sales on Black Friday, retailers will need to relatively deep discounts or perceived added value to drive footfall in-store on the day."