Irish people to spend €25,000 per minute on Black Friday

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Irish consumers will spend €25,000 every minute on Black Friday, with €8,000 of this figure being spent on clothing alone. New data from AIB has pointed to a likely increase of 232% in spending on Black Friday, which takes place this Friday, 26 November. The data was compiled from over one million card transactions carried out by Irish consumers online during Black Friday 2020 and has been anonymised and aggregated. It found the busiest time for shopping came between 11am and 2pm on Black Friday with clothes the most popular purchase, followed by electronics and hardware. Men spend an average of €90 per clothing transaction on Black Friday, which is more than women, who spend an average of €77 per transaction. “Our data shows that consumers are increasingly choosing online when it comes to grabbing a bargain on Black Friday," John Brennan, Head of SME Banking at AIB said. "While this ensures more choice for consumers, it’s also important to consider the impact that buying from abroad can have on the climate. "Shopping locally where possible ensures we are minimising our carbon footprint. It also ensures we are supporting local Irish businesses who have invested in their online shopping services and have faced challenges over the past two years as a result of the pandemic.” AIB also warned customers to be wary while shopping on Black Friday to ensure they do not fall victim to scams and fraudsters. It issued the following advice to the public:

• When buying something online never transfer money directly to a seller’s account.
• Beware of bargains. While Black Friday is all about getting the best bargains, buyer beware, because if it seems too good to be true, it probably is.
• Check that the payment page you are buying through is secure – make sure you’re not buying from a fake or imitation website.
• Check your bank statements often. You can view your statements quickly online after you have purchased something to ensure you have been charged the correct amount.
• Finally, log out. Once you’re done shopping online, ensure you have logged out of any websites you have used to ensure there isn’t a risk of them being used by someone else.