New research from MediaCom Ireland finds interest in Black Friday deals driven by female consumers
Black Friday is still in its relative infancy in Ireland, but it’s already made a powerful impact on savvy Christmas shoppers. With this in mind, MediaCom and iReach conducted a survey to gauge consumers’ attitudes about Black Friday and broader Christmas 2016 spending plans.
#1Black Friday appeals most to female, younger consumers.
#2 Almost 70% of those who made a Black Friday 2015 purchase were delighted with what they bought.
#3Women and 35-54s are most budget conscious during the pre-Christmas shopping period.
#4 Just 1/3 consumers have a set budget planned for Christmas 2016
#5 €493 is the average spend on Christmas gifts
#6 On average, over a third of Christmas shopping is now done online
AN IMPORTANT DATE ON THE CALENDAR
22% of Irish people consider Black Friday an important day on the shopping calendar, with female respondents more likely than males to do so (26% v 18%). Consumers living in Connaught / Ulster are more likely than others to consider it important, at 31%.
1 in 5 Irish people made a Black Friday purchase in 2015, with females particularly likely to do so (26%). Younger consumers (18-34) also have a far greater propensity than older (25% of 18-34s made purchases compared to 20% of 35-54 and 15% of 55+.
BUYER’S REMORSE OR REJOICE?
One of the biggest criticisms of Black Friday, and indeed sales more broadly, is that consumers are often left feeling duped into buying something they wouldn’t ordinarily have bought. However, our survey results show that is isn’t the case for Irish consumers. Of the 21% of Irish consumers who made a purchase on Black Friday, 69% agreed they were delighted with what they bought, with only 10% claiming to be disappointed. However, just 39% of those who bought something during a Black Friday promotion felt they would have made those purchases anyway without the discounts. 31% feel the event is a gimmick, but a greater proportion (36%) disagree with this.
THE EARLY BIRD CATCHES THE WORM
So the famous expression goes. The results of our survey shows Black Friday has a positive impact on Christmas shopping costs, with 60% of those who purchased something on Black Friday agreeing that the day makes it easier to afford particular gifts before Christmas. Our survey also found that the majority of shoppers (53%) begin buying gifts at least 2-3 months before Christmas, with women more likely than men to start shopping early. We also found that women are significantly more organised than men when purchasing Christmas gifts; just 33% leave shopping until December compared to almost two thirds (61%) of men.
Less than 1/3 of Irish consumers have a set budget for Christmas 2016 – a fact likely to ring happily in the ears of retailers across the country. Women are more likely to budget (38% v 24% of men) and 35-54s are also more likely (35%) than other age cohorts.
€493 IS THE AVERAGE SPEND ON CHRISTMAS PRESENTS
Consumers intend to spend more than twice as much on presents (average spend €493) than on food and drinks (average spend €215). Just under half of consumers (47%) plan to spend on home furnishing, with an average planned expenditure of €129.
TRADITIONAL RETAIL STORES WIN OUT, BUT OVER A THIRD OF CHRISTMAS SHOPPING IS DONE ONLINE
64% of consumers’ shopping is done in a traditional bricks and mortar retail store, skewing slightly more towards males (67% v 62%). 19% is done via international or internet-only retailer (Asos, Littlewoods, Amazon etc), 15% on a store’s website and 2% on an app.
With Black Friday 2016 taking place on November 25th we will continue to monitor consumer sentiment towards this US import day of discounts.
Speaking about the survey, Ian McGrath, Managing Director of MediaCom Ireland, commented:
“Retailers and brands have quickly become sophisticated in how they employ their Black Friday game plans, with many extending their offers beyond the day itself to maximise volume. It is likely to be a critical part of this year’s pre-Christmas plans for Irish retailers as sterling (£GBP) softens and more sales shift online from the high-street.”
This MediaCom survey was conducted amongst a nationally representative sample of just over 1,000 adults across the country nationwide in September 2016. The study was conducted by market research company, iReach, via their online consumer omnibus survey.