And most people think the American-imported shopping event is overrated.

The average spend per person is set to fall to €170 this year, down from €190 last year, according to a nationwide iReach Insights survey.

Despite this, the survey found that six out of 10 adults in this country plan on buying form stores and online on Black Friday and Cyber Monday.

Overall spending is estimated to be €422m, down €36m from last year, as the cost-of-living squeeze means many people are paring back their expenditure.

Black Friday is on the 28th of this month.

It is always the Friday after Thanksgiving in the United States. It traditionally marks the start of the Christmas shopping season and is the busiest shopping day of the year in the US.

Many people are sceptical about the discounts offered.

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