Black Friday / Cyber Monday: Research
The Competition and Consumer Protection Commission (CCPC) commissioned Ipsos MRBI to conduct research in October 2022 to gain further insight in to consumer attitudes to the Black Friday / Cyber Monday sales in the face of ongoing energy and product inflation.
The survey was conducted ahead of the start of the Black Friday sales on 25 November.
Summary findings include:
- the research found that just under 40% of consumers plan on purchasing during the upcoming Black Friday sales, with those consumers expecting to spend an average of €400.
- 81% of consumers are planning on researching the advertised discount of the item before purchasing, with 18% responding that they would not do any research. Those intending to do some research was highest among the 45+ age group (87%) and lowest among the 15-24 age group (69%).
- of consumers intending to buy in the sales, 49% responded that they do not trust the accuracy of discount information provided, in that they don’t believe pre-sale prices or percentage discounts displayed by businesses are accurate. This was most prevalent among those aged 35-44 (39%).
- the research found that 61% of those intending to buy in the sales are influenced by the discount offered. For 51% of consumers who are planning to purchase, finding a specific product or service is important, while a further 25% said the limited timeframe of the sale would influence their purchasing decision.
- electronics are the most popular item for consumers with 46% intending to buy an electronic item, with an average spend of €502. The most popular electronic item was a laptop or tablet device (37%), followed by mobile phones (26%) and televisions (22%). Clothing, footwear and jewellery were the next most sought-after items (35%) with just over half of under 25-year olds planning these purchases.
Attachments:
2020.11.09 Black Friday-Cyber Monday Research
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