Black Friday Australian sale: Aussies set to spend record $6.7b shopping for bargains

Black Friday sales are expected to break records as cash-strapped Australian families hunt for better deals.

Shoppers are expected to spend $6.7 billion from Black Friday to Cyber Monday, Roy Morgan research estimates.

As households budgets get tighter, families are looking for more bargain days, leading to Black Friday surpassing Boxing Day as the most popular sales event in the country.

Almost two-thirds of shoppers plan to make a purchase at end-of-year sales across November and December, according to research from Monash University’s Business School.

The report found Australian shoppers will spend $481 on Christmas presents for immediate family and hundreds more on extended family and friends, while half of all shoppers will buy at least one item of clothes, shoes and accessories.

Lead researcher Stephanie Atto said the introduction of a series of end-of-year sales had made things easier for cash-strapped gift-givers.

“Obviously Australians are feeling the pressures of cost of living at the moment and inflation and high interest rates so what we saw was that they are saving up to take advantage of promotional periods” she told AAP.

“These sales events offer a welcome reprieve and an opportunity to snatch a bargain in time for Christmas.”

The research found 30 per cent of people are planning to use buy-now, pay-later schemes.

Ms Atto said the trend likely linked to the same cost-of-living pressures,.

Consumers are also sounding the alarm about dodgy sales schemes over the Black Friday period, according to research by Finder.

A survey of 1095 respondents found that more than half had noticed products jump in price before sales periods.

Finder shopping expert Chris Jager said this form of false advertising was difficult to prove because prices jumped around.

“Some retailers artificially inflate prices right before a sale to make the discounts seem larger than they actually are,” he said

Almost half of all retailers say they depend on the end-of-year sales to bolster their businesses.

More than 70 per cent of small retailers say the Christmas trading period will be extremely or very important to their businesses, according to the Australian Retailers Association.

Almost half (44 per cent) anticipate sales will be up on 2023’s figures, while 28 per cent say they will offer more promotions to meet shoppers facing financial pressures.

Association chief industry affairs officer Fleur Brown said shoppers were trying to enjoy small luxuries without breaking the bank.

“This peak season trading period is more essential for retailers than ever, offering many discretionary retailers the chance to make up to two-thirds of their annual profits,” she said.

The association predicts a $69.7 billion boost in the lead-up to Christmas.