Black Friday turned green this year as almost three-quarters of spending went to businesses or websites in the State, new Revolut data has revealed.
The majority of spending on the day was carried out in person, however 67% of online shopping was on foreign websites, with just 33% spent on Irish sites.
In total, 54% of Revolut customers' Black Friday spending was in-store - with 46% carried out on the internet.
The biggest merchant categories for spending on foreign websites were women’s ready-to-wear (94%), books (94%), mens and women’s clothing (88%) and cosmetics(62%)
The top categories for shopping on Irish websites were toy shops (68%), furniture and home furnishings (68%), sportswear (65%) and electronics stores (64%)
An updated edition of the November Revolut Report has found that 71% of spending by Revolut’s 1.5 million Irish customers was undertaken in shops or on websites based in Ireland.
The news will be a major boost for campaigns such as Champion Green which are encouraging consumers to buy Irish wherever possible.
The new data is likely to renew the drive to encourage Irish consumers to shop locally in the remaining shopping days until Christmas.
However, the initiative’s founder Marion O’Gorman has warned that shoppers’ choices over coming weeks will be make-or-break for many Irish firms.
Sebastian Hamilton, Head of Public Affairs at Revolut Ireland, said the latest Revolut Report showed that Irish consumers were spending most of their money in businesses in the State. However he warned that retailers and policy-makers could not afford to be complacent.
"Overall, the fact that the vast majority of Black Friday spending was carried out with businesses in Ireland or on Irish websites is good news for our economy. It is a testament to all those who have campaigned and encouraged Irish consumers to shop Irish.
"However Revolut’s data also reveal that more of our online shopping is being carried out with overseas websites than before. Retailers and policy-makers will want to consider this trend for the future."
Welcoming the shift towards shopping locally, Marian O’Gorman, Champion Green founder and Chairperson of Kilkenny Design, said that the whole country benefits the more we can keep money in circulation locally.
"It is very concerning the extent to which small family-owned businesses here have been set back by the pandemic. For the sake of local jobs and services, it is vitally important that Irish consumers do their utmost to shop online or in-person with local businesses, in order to support the domestic economy."
Champion Green is a voluntary association of industry and trade bodies that promote shopping locally, and provide practical supports for SMEs recovering from business disruption.
In the final two months of the year, retailers typically earn 70 per cent of annual profits, and up to 50 per cent of their revenue, the group maintains.
"The choices that Christmas shoppers make now will determine whether or not many local retail and service providers survive into the New Year; that is the stark reality", said Ms O’Gorman.