OVER two third of Irish shoppers “lack trust” in Black Friday sales, it has been revealed.
And the Competition and Consumer Protection Commission has revealed that younger shoppers are set to be the most vulnerable when it comes to fake deals.
Black Friday deals are set to begin on Friday, November 29, with Cyber Monday discounts on December 2.
In a recent survey, the CCPC found that young people are least likely to carry out research into price decreases ahead of the sales – and they are the most likely group to spend money during Black Friday.
The report found that 45 per cent of respondents who made an unplanned purchase last year ended up regretting it afterwards.
This year, it is predicted that 36 per cent of the population will cash out on discounts during Black Friday and Cyber Monday sales, a major drop compared to the 45 per cent of shopper last year.
The report also found that just under a third of shoppers, at 30 percent, trust that the prices given by retailers are genuine.
Despite the amount of shoppers prepping for the big day dropping, it is expected that spending will increase to an average of €431 compared to €343 in 2023.
Speaking of the new findings, Grainne Griffin, Director of Communications at the CCPC, said one in three shoppers use this time to get started on their Christmas shopping.
She said: “We know that time bound discounts and special offers can really tempt consumers into making purchases that they wouldn’t usually make.
“While numbers are down, over 1 in 3 consumers are planning on shopping in the upcoming Black Friday sales, with most of them making a start on their Christmas shopping.
“We strongly encourage consumers to plan before they shop, create a list, stick to a budget, and check companies’ returns policies.
“Consumers should also take particular care when shopping online, making sure they buy from well established businesses based in Ireland or elsewhere in the EU.”
She also noted that there are “strong legal requirements” businesses must follow when displaying discounts.
This means they must be “genuine and clearly show the consumer the prior price”.
This should be displayed online or in store as the “recommended retail price” or RRP, and it cannot legally be used to mislead customers into believing a product has been discounted.
AVOIDING BLACK FRIDAY SCAMS
IRISH consumers are being urged to stay vigilant when shopping over Black Friday weekend, especially when it comes to online purchases.
Online scams tend to increase in the lead-up to events like this due to larger audiences searching for savings.
It is important to ensure you are taking the best steps in order to protect yourself when it comes to online scammers.
Fake websites
Popular websites are often the main target of these scammers, with fake but convincing websites being set up to lure customers.
When shopping online, ensure the website you’re using has “https” at the beginning of the URL as it makes sure your card details and personal data are secure.
As an extra step, if you have an account with the retailer, be logged in. If you don’t, consider making one as this will confirm the website is legitimate.
Fake emails and texts
Phishing comes in the form of fake emails and texts where scammers impersonate retailers into claiming they are giving great deals.
These messages often send links to fraudulent websites that are designed to entice customers and take their money.
Always ensure the website is secure before using and in some cases, these site will have misspellings or grammatical errors in the link. If this happens, do not use the site.
Social media scams
Be aware of fake giveaways, offers and competitions on socials media platforms, especially those leading to a link where you can claim a prize or discount codes.
If a website requires details from you in order to access a voucher or offer, it is most likely fraudulent.
Fake order confirmation
Watch out for confirmation emails on orders you have not purchased. These can often look legitimate but with closer inspection will gave misspellings.
They often don’t address you buy name and will ask for urgent action in dealing with an issue on the order.
If this happens, ignore the email.
Shopping on open Wifi
Public Wi-Fi networks can lack safety protocols and can be exploited by scammers.
They can, at times, access your bank details without your knowledge when shopping online through them.
Ensure you are always using a secure network or mobile data when making online purchases.
When it comes to younger shoppers ranging from 15 to 24-years-old, the CCPC said they are much more likely to “trust advertised discounts, and less likely to do research about prices”.
This leads many to become “vulnerable to fake discounts”.
When surveyed, it found that among these consumers, credit card payments are far less likely, with 84 per cent opting for debit payments and being more likely to use cash.
Griffin added: “Consumers can’t shop around unless prices are clear, accurate and easy to compare.
“While we encourage all consumers to be mindful of sales prices, traders have a duty to ensure their prices are displayed clearly and reflect honest and genuine discounts.
“The CCPC will not allow businesses to mislead consumers into thinking that they are getting a better deal than they actually are.”
Under consumer law, all retailers are required to show the prior price of any discounted item.
Discounts must also be based on this prior price, such as an amount or the percentage it is reduced.
