The ARA and Roy Morgan are predicting a $6.2 billion spend over this weekend’s four-day Black Friday to Cyber Monday bonanza – up $200 million on last year.
“The Black Friday sales are the biggest pre-Christmas event on the retail calendar and its popularity is continuing to grow in Australia. After starting off as an American shopping tradition, the Black Friday sales have become a global phenomenon and millions of Aussies are set to take part,” ARA CEO Paul Zahra said.
“The event is renowned for having the biggest pre-Christmas bargains and this year will be no different. We’re expecting huge amounts of traffic in-stores and online, with sales to reach $6.2 billion this year – an increase of $200 million on 2021,” he said.
Salesforce’s Holiday Insights research found that a quarter of Christmas shopping is completed in Black Friday week alone.
Meanwhile, RateCity found in its survey of 1000 respondents, that 77 per cent have bought something they didn’t need during the Black Friday sales just because it was “on special”.
“For households tightening their belts, sales can be a good opportunity to buy things cheaply, but it’s easy to get carried away,” RateCity.com.au research director Sally Tindall said.
“The last thing families need is to blow an almighty hole in their budget as the silly season hits.”
