irish Consumers at Risk of Regretful Spending During Sales Events
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A recent survey by the Competition and Consumer Protection Commission (CCPC) reveals that a meaningful majority of Irish consumers make unplanned purchases during sales, with a substantial portion later regretting those decisions. As major sales events like Black Friday and Cyber Monday approach, the CCPC is urging shoppers to be mindful and avoid impulsive buying.
Unplanned Purchases and BuyerS Remorse
The CCPC found that three in four (72%) consumers make unplanned purchases during a sale, and six in ten of those who do so experience regret. https://www.ccpc.ie/news/ccpc-warns-consumers-to-be-wary-of-impulse-purchases-ahead-of-black-friday/ This highlights the pressure consumers feel during sales periods to make quick decisions, often leading to overspending or buying items they don’t truly need.
increased Awareness of Sale Pricing Regulations
Fortunately,awareness of consumer rights regarding sale pricing is growing. The survey showed that 70% of consumers in 2025 (projected from October 2024 data) are aware that businesses must adhere to specific rules when advertising sales, compared to 65% in 2024. This increase is likely due to the implementation of new regulations in Ireland in 2022.
Understanding the Sale Pricing Regulations
These regulations, enforced by the CCPC, require retailers to clearly display discounts based on the lowest price the product was offered at during the preceding 30 days.https://www.ccpc.ie/consumers/shopping/sales/ Businesses failing to comply face enforcement action,ensuring greater transparency for consumers. This means a “sale” price isn’t necessarily a bargain if the item was recently sold at that price,or even lower.
CCPC Advice for Savvy Shopping
Gráinne Griffin, Director of Communications with the CCPC, emphasizes the importance of mindful shopping. She advises consumers to:
* Create a list: Focus on needed items rather than browsing impulsively.
* Set a budget: Determine how much you can realistically spend and stick to it.
* Pause and think: Resist the urge to make immediate purchases.
Furthermore, the CCPC cautions consumers to be critical of recommendations from social media influencers. Influencers are legally required to clearly disclose when their posts are advertising commercial products and must not mislead consumers. https://www.ccpc.ie/news/ccpc-issues-reminder-to-influencers-on-transparency-of-commercial-content/ Consumers should look for advertising labels and conduct their own research before making a purchase based on an influencer’s suggestion.
Key Dates for Sales Events
* Black Friday: Friday, November 28th
* Cyber Monday: Monday, December 1st
Survey Methodology
The CCPC’s research was based on a nationally representative sample of 1,034 people interviewed in October by Ipsos B&A. This ensures the findings accurately reflect the views of the Irish population.
Key takeaways:
* A large majority (72%) of Irish consumers make unplanned purchases during sales.
* Most (60%) of those unplanned purchases are later regretted.
* Awareness of sale pricing regulations is increasing, but vigilance is still needed.
* Consumers should create lists, set budgets, and research purchases before committing.
* Be wary of influencer marketing and look for clear advertising disclosures.
The CCPC’s warnings serve as a timely reminder for consumers to approach Black Friday and Cyber Monday with caution and a well-defined shopping strategy. By being informed and mindful, shoppers can avoid the pitfalls of impulse buying and ensure they are getting genuine value for their money.