According to PwC Ireland Consumer Insight survey, Irish shoppers have embraced Black Friday and Cyber Monday, with one-fifth of survey respondents confirmed that they will make some form of purchase on Black Friday and Cyber Monday, while a further 37% are considering it.
However, Irish shoppers are polarised in their views on the online event, with 61% of 18 to 34-year-olds intending to purchase, while only 7% of the over-55s say they will purchase.
With retailers and brands going through so much transformation, the survey highlights that Black Friday and Cyber Monday, and the run-up to Christmas, offer great shopping and business opportunities.
PwC has recommended that, as shoppers are getting the Black Friday feeling, retailers should follow suit.
Significant Consumer Spend
The survey highlights that consumer spending in Ireland will be significant on Black Friday and Cyber Monday and retailers need to ensure they get their fair share of the action.
Despite the buzz around the event, however, only 20% of shoppers expect to do the majority of their Christmas shopping on Black Friday and Cyber Monday while the majority of survey respondents still expect to do it in December.
Nearly one in ten have done their Christmas shopping already.
“While Black Friday and Cyber Monday shopping may be opportunistic, presenting a huge retail opportunity, there is plenty more opportunity for retailers to capitalise on in December,” Grace McCullen, Senior Manager with PwC Retail and consumer practice said.
“Black Friday and Cyber Monday drive footfall to stores and conversions online. Proactive retailers should leverage that appetite and seek to maximise the extended Christmas trading period, capitalising on targeted promotions and margin management opportunities.”
The survey reveals that the most popular channel for Black Friday / Cyber Monday spending is online (66%) and for Christmas spending, it is the store (58%). Nearly half (49%) of 18 to 34-year-olds plan to make their Black Friday / Cyber Monday purchases via their mobile phones while a third (34%) of over 55s plan to purchase online via laptop or desktop.
“With mobile purchasing becoming more popular, technology provides a gateway for shoppers seeking value with faster and smarter choices,” Owen McFeely, Director of PwC’s Retail and consumer practice said.
“Data is king and it also offers brands and retailers the prospect of using and growing their database to deliver personalised offers and better customer experience. And while there is a paradox of privacy and trust, in our experience, consumers are prepared to share their information with retailers as long as trust is in place and they receive something valuable in return.
“In a world where consumers are always-on, having the right blend of loyalty-generating service and personalised promotions will help reap the benefits of the Black Friday weekend and Christmas shopping opportunities.”
The items expected to dominate this Black Friday/ Cyber Monday are clothing/footwear (69%) and electronics (60%), with females and males leading purchases in the respective categories.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.