Northern Ireland shoppers plan to spend around 35 per cent more on Black Friday, says new survey
JUST over half (59 per cent) of consumers in the north are either interested or plan to buy something on Black Friday, according to research from PwC.
Shoppers plan to spend around 35 per cent more than last year, an average of £183, as the now global retail event hits the high street on November 29. The average increase across the UK is 11 per cent or £224.
The increase in forecast spend in Northern Ireland is the second highest in the UK. Some 20 per cent of local consumers say they will spend up to £500 on gifts, while 24 per cent say they'll spend up to £3,250 during next Friday's event.
However the results, which come from a PwC survey that charts the opinions of consumers in Ireland, France, Germany, the Netherlands, and South Africa, also show that UK consumers are increasingly cynical about Black Friday deals.
In fact, UK consumers are the least enthusiastic of all those surveyed, with just over half (52 per cent) interested in the event compared with over 80 per cent of those in Ireland (84 per cent), France (81 per cent) and South Africa (88 per cent) either interested or planning to buy something.
This year has seen increasing awareness around environmentalism and the impact of ‘fast fashion', as well as a trend known as the ‘Marie Kondo effect', named after the popular lifestyle guru, who encourages people to actively reduce the amount of items they own. Of the Northern Ireland consumers who don't intend to get involved in Black Friday, cutting down on possessions was cited by over half (52 per cent).
Brexit made it into the national top three reasons putting people off buying in the sale, with respondents saying they're now more financially cautious. Almost a third believe that the deals aren't exciting, while 20 per cent believe that deals aren't actually genuine. Under 25 year-olds are particularly unimpressed by Black Friday, with the lowest projected spend of just £111, an 11 per cent decline on last year.