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Irish shoppers predicted to spend €26m online on Black Friday

Written by Robert McHugh, on 23rd Nov 2022. Posted in General

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Irish consumers are expected to spend circa €26 million online during Black Friday, 33% more than on Cyber Monday, according to new data from AIB.

The data was compiled from over one million card transactions carried out by Irish consumers online during Black Friday 2021 and has been anonymised and aggregated. It is estimated that Irish consumers spend over €18,000 every minute during Black Friday, with women spending 66% more than men.    
 
There was €5,700 a minute spent on clothes alone on Black Friday in 2021, a 261% increase in value compared to a normal day. This equates to over 97,000 transactions on clothing websites throughout the day, or approximately one transaction every second. On a normal day, the number of online clothing transactions is a fraction of that, coming in at just below 30,000. Black Friday this year will fall on 25th November and Cyber Monday on 28th November.
 
Clothing ranks first for consumer spending on Black Friday, followed by Electronics, Groceries, Department Stores and Hardware. The majority of electronics (55%) are purchased online while 93% of health and beauty sales are made in-person. The busiest time for shopping during Black Friday is between 10am – 11am, with the second busiest time being just after that, 11am – 12pm.
 
Commenting on the data, Head of SME Banking at AIB, John Brennan said, "As people prepare for winter against a backdrop of cost of living increases, many are looking to complete their holiday shopping early and find Black Friday deals. AIB’s data shows that consumers are increasingly choosing online when it comes to grabbing a bargain on Black Friday. While this ensures more choice for consumers, it’s also important to consider the impact that buying from abroad can have on the climate. Shopping locally where possible ensures we are minimising our carbon footprint, and it supports local businesses."

Source: www.businessworld.ie

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