Tag: Cyber Monday

One in three traders incorrectly display discounts online during Black Friday and Cyber Monday

The European Commission and consumer protection authorities from 23 Member States as well as Iceland and Norway, released the results of a sweep of online discounts during Black Friday and Cyber Monday sales.

Ireland’s consumer watchdog, the Competition and Consumer Protection Commission (CCPC), participated in the sweep of over three hundred online retailers. Tackling misleading discounts has been a priority for the CCPC since the introduction of new sales pricing rules, with successful prosecutions brought against a number of retailers including Boots, DID Electrical and Brown Thomas Arnotts.

Sweeps are coordinated by the European Commission and carried out simultaneously by national enforcement authorities. The objective of this sweep was to assess whether discounts and pricing practices during major sales events, such as Black Friday and Cyber Monday, were compliant with EU consumer law.

Consumer protection authorities checked 314 online traders selling a range of goods such as cosmetics, fashion, furniture and electrical goods, and found that 30% referenced discounts incorrectly during such sales. Under the Price Indications Directive, when a business announces a discount, the price of reference must be the lowest price applied in the past 30 days. The CCPC has previously published a set of guidelines on sales pricing.

Authorities also assessed other sales tactics that may influence consumers’ purchasing decisions. Out of the traders screened:

  • 36% attempted to add optional items to consumers’ baskets. Of those, four in ten did so without clearly requesting consent.
  • 34% displayed price comparisons. 6 in 10 of those did not clearly explain what the reference for their price comparison was.
  • 18% used pressure-selling techniques, such as claiming a product is running out or using countdown timers. The authorities identified that more than half of these cases were misleading. A pressure-selling technique can be considered misleading, for example, when its claim of scarcity is fake.
  • 10% used “drip pricing”, where extra fees are added late in the purchasing process, such as shipping or service fees.

Adding items without the consumer’s consent, displaying prices in a misleading way, claiming falsely that a product is running out, or hiding extra fees until the end of the process are illegal practices under EU consumer law. Following the sweep, national consumer authorities may take action against the businesses concerned.

Helen Martin, Member of the Competition and Consumer Protection Commission (CCPC) said,

“Consumers have a legal right to clear pricing information, and businesses must not mislead consumers into thinking they’re getting a better deal than they really are. Businesses should know that we are monitoring and have successfully taken traders to court for fake discounts. Transparency in pricing allows consumers to shop with confidence and ensures a level playing field for businesses.”

Michael McGrath, Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, said: 

“Trust is essential for both consumers and businesses. Misleading discounts and false ‘promotions’ undermine that trust. EU consumer protection rules strike a careful balance, ensuring a fair market that serves the interests of both businesses and consumers. This sweep gives us a comprehensive view of the market, helping us identify where further action is needed to keep it fair, transparent, and competitive.”

Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy, said:

“Black Friday and Cyber Monday offer great opportunities for both businesses and consumers. However, a great bargain is no excuse to cheat the rules. Consumers expect a fair treatment, whether they are shopping online or offline. Our sweep should act as a reminder: Businesses that treat their customers fairly always benefit.”

Irish Shoppers Favour Trusted Websites Over Social Media

Consumers in Ireland are gearing up for one of the biggest online shopping weekends of the year, with 55% planning to make a purchase during Black Friday or Cyber Monday, according to a new survey from .ie (Ireland’s national domain registry), conducted by Core Research. The survey reveals that while social selling continues to grow, trust and security remain key factors in how and where people choose to shop.
The research shows that more than half (51%) of consumers are likely to make an impulse purchase during the sales, driven by price, convenience and speed.
Electronics (68%) and clothing (58%) top the shopping list, with younger shoppers most likely to buy on impulse.
While consumers are motivated by bargains, trust and security are becoming decisive factors in where they spend. The research found that 58% of shoppers are more likely to buy from a retailer with a .ie domain, citing stronger trust, security, and a desire to support Irish businesses  as key reasons.
David Curtin, Chief Executive of .ie, comments,
“Irish consumers love a good deal, but they also value reassurance. Even the most impulsive shopper wants to know who’s behind the offer and that the business is genuine. A .ie web address signals that there is a connection to Ireland, offering transparency and accountability”
The findings come as awareness of online risks continues to grow. Three in four consumers (76%) believe websites offer stronger protection than social media platforms, while phishing is viewed as the most common scam method (73%).
Over 7 in 10 say phishing is the most common way scams occur. Almost six in ten believe social media is where scams are likely to occur when shopping online. The majority are concerned about online scams. Over 1 in 5 have been a victim of scam. Customer reviews and Google search are the two most common safety checks. More than 3 in 4 think shopping on a website is safer than shopping via a social media platform.
One in five people in Ireland have already lost money to an online scam, with an average loss of €401.
When choosing where to shop, delivery speed ranks as the third most important factor, after price and quality. Faster delivery within Ireland motivates 61% of shoppers to choose .ie sites, while 45% cite domain trust and 33% cite security as key drivers.
.ie’s Five Smart Steps for Safer Black Friday Shopping
  1. Read customer reviews and search the company name online
  2. Watch for unrealistic discounts that appear out of nowhere
  3. Ensure the web address starts with https
  4. Check for the .ie domain to confirm the business has a connection to Ireland
  5. If in doubt – don’t buy
With peak sales pressures and increasingly sophisticated scams, .ie is encouraging shoppers to think smart, shop secure, and keep their money local by supporting trusted Irish retailers. and as I always say STOP THINK CHECK and if in doubt give me a shout on any of my social media.

Pace of growth in household spending accelerates in January

Bank of Ireland customers increased their debit and credit card spending for January, with an acceleration in the pace of household spending growth to 6.1%, up from 4.5% in December. This growth, which was broad-based across various sectors, significantly outpaced the current CPI inflation rate of 1.4%, indicating a real gain in consumption of approximately 4%.

A key highlight of January’s spending was a surge in summer holiday planning – travel agencies saw a 50% increase in sales from December, while airline spending rose by 90%. Although year-on-year growth in these categories was modest, spending on hotels and resorts increased by 4.9%.

Spending on sports clubs saw a substantial 23% year-on-year rise, reflecting ‘New Year, New You’ resolutions. However, the January sales season’s impact on retail was less pronounced, with clothing sales down 5% year-on-year, although electrical goods saw a 6.4% increase – November/December are now the most important months for sales of both these items.

Despite the January sales season not providing a significant boost to retail spending, likely due to the prominence of Black Friday and Cyber Monday sales in November and December, spending on services saw a 4.2% year-on-year increase, driven by higher expenditure on travel and other services. ATM withdrawals decreased in January by 2% year-on-year, now accounting for just 12% of total card spending, down from nearly one-third pre-pandemic.

“January’s credit/debit card data showing nominal spending growth of 6.1% is an encouraging sign, showing households’ incomes and expenditure are now growing faster than prices. Notably, cash withdrawals now account for just €1 in every €10 spent by Irish households, well down from one-third just a couple of years ago,” said Conall Mac Coille, Chief Economist, Bank of Ireland.

Looking ahead, Bank of Ireland forecasts a 3% real growth in consumer spending for 2025. “Several indicators support this optimistic outlook, including employment growth at 3.7%, a low unemployment rate of 4%, and average earnings growth of 5%, which is above the CPI inflation rate of 1.4%. Budget 2025 tax cuts, worth 2% of disposable incomes at the average wage, are also expected to bolster consumer spending”, said Conall Mac Coille.

Valentine’s Day is likely to have provided a significant boost to florists, with spending typically rising 5-6 times the normal daily average during this period. There has been a consistent decline in spending on online dating services, down 17% year-on-year in January and 43% since the peak in 2021.

TOZO Black Friday and Cyber Monday Deals

TOZO is a relatively new brand for the masses and it is good to now see their product in some bricks and mortar stores here in Ireland and this is a brand you need to try out, we have been testing their products for some time now and for me this brand is putting it up to the big players with their product and prices which is great for the consumer.

With the annual Black Friday and Cyber Monday here they now have a sale on giving you even better value for your money and makes way for picking up a gift for a loved one or even for yourself and with the prices they ask you could easily have a small ecosystem of products at a fraction of high end competitors and products that deliver, not only this they have mystery box deals to which sounds good for those who want a random product or gift to send to someone.

The sale runs up till December 2nd so be sure to check out what is on offer here and if you need some advice on something you like check out our TOZO reviews and stay tuned for new reviews soon.

Consumers warned to be wary for Black Friday fraud – Bank of Ireland

Bank of Ireland is warning consumers to be especially vigilant for fraud as Black Friday and Cyber Monday approach.

Black Friday and Cyber Monday are key online shopping dates for many consumers, which also means fraudsters will be stepping up their activity. Bank of Ireland customers spent 54% more online during Black Friday last year compared to a standard Friday, with clothing (+104%) and electrical goods (+100%) seeing the largest increase.

For those shopping online this Black Friday or Cyber Monday, Bank of Ireland is providing tips to stay safe.

Black Friday / Cyber Monday tips:

 

  • Be careful with links in emails and texts – Fake links can lead to fake websites where you may be asked to share your personal banking details including activation codes.

Do not share your banking details, including your full online banking PIN, or other personal information.

  • Think before you click – make sure you double check website addresses for anything unusual.
  • Use trusted websites – check that the ‘https’ and the lock symbol is displayed. Exercise caution with Pop ups on your social media feed (fraudsters can pay to have their ads in front of you).
  • On a mobile device use trusted apps – it can be difficult to see the full web address on mobile if you are using a web browser so instead stick with trusted apps.
  • Use up to date anti-virus software on your computer – this will help protect it against malware.

Nicola Sadlier, Head of Fraud, Bank of Ireland said: “We are already starting to hear about Black Friday and Cyber Monday deals, but shoppers need to be extra vigilant for fraud. Fraudsters like to inject an element of urgency into their offers or fake adverts, but don’t rush a transaction without checking things properly first. Verify if websites and apps are legitimate and be extremely careful with online adverts, texts or e-mails. Remember, if something sounds too good to be true, it’s probably fraud.”

To coincide with the busy pre-Christmas shopping period, Bank of Ireland has launched a new national fraud advertising campaign, reminding customers to Stop, Think and Check. The Bank is publishing a series of ‘True Crime’ videos with renowned cyberpsychologist Professor Mary Aiken providing insights and tips to help people protect themselves.  Visit Security Zone – Bank of Ireland Group Website