Shoppers are set to make Black Friday the biggest spending day of the year
Millions of Aussies are getting ready to join in the hunt for a bargain in what’s expected to be the biggest shopping day of the year.
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Australia’s biggest ever Black Friday is expected to shatter spending records and replace Boxing Day as the biggest shopping day of the year.
About 10 million people will embrace the hunt for deals on the big day, set to fall on November 24.
Shoppers are expected to spend a whopping $440 each on average, eclipsing the Boxing Day average spend of $380.
Perhaps surprisingly, most customers are expected to make their purchases in-store rather than online.
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“Over the past couple of years, we’ve seen customers value the experience of physical retail and that’s set to continue this Black Friday with almost 60 per cent of purchases expected to be made in-stores,” Vicinity Group’s Kirrily Lord said.
Vicinity Group manages 59 shopping centres nationally including Chadstone and Emporium Melbourne.
Shopping in-store could help people shop smarter, according to Deakin University senior lecturer in consumer behaviour Paul Harrison.
“If you do go to Chaddy, you’re kind of going from shop to shop and you’ve got time to think things through, you’ve got time to think a little bit more, you might be with somebody you can go ‘how do I look in this?’,” he said.
“Whereas online it’s very much, ‘let’s get you to the end game’. There’s all sorts of things built into online environments to get you to move through as fast as possible.”
With so many people still doing it tough in the cost-of-living crunch, more Australians than ever before are looking to save money in the bargain bonanza.
Black Friday has now become an essential part of making Christmas affordable, with new research showing three in four shoppers will participate in this year’s sales event.
A survey of 1000 consumers commissioned by business management platform MYOB shows 75 per cent of Australians plan to shop during Black Friday sales this year, a 13 per cent increase since 2022.
More than half the people surveyed are relying on Black Friday sales to save money on Christmas shopping, with 52 per cent reporting they are concerned about managing their festive season budgets.
And not only are more people than ever aiming to snap up bargains, separate research suggests Aussies are getting increasingly savvy about how to get most benefit from the big day.
About 56 per cent of shoppers are likely to plan their Black Friday purchases in advance, according to research by Nature, a strategic insights company.
According to Dr Harrison, planning is the No. 1 tip for anyone looking to guard against losing themselves in a day of consumer chaos.
That and taking one’s time over purchases.
“I think plan would be the big one – take the time,” he said. “And I actually think step away – if you’re in the shops, go for a walk and talk it over with somebody. If you’re at home, just kind of close off the website and come back to it.”
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Originally published as Shoppers are set to make Black Friday the biggest spending day of the year
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