Black Friday and Cyber Monday have long shrugged off their roots as shopping events linked to the US Thanksgiving holidays. Over the past few years, Australians have been equally enthusiastic in grabbing discounts and special offers during the four-day shopping frenzy.
The Australian Retailers Association (ARA) and Roy Morgan predict that Australians are poised to spend a record $5.4 billion – both in-store and online – this year. November has become Australia’s biggest shopping month of the year, springboarding off the big spike in sales over Black Friday and Cyber Monday, notes Paul Zahra, CEO of the ARA.
“For the past two years, November has beaten December as the biggest month for Australian retail sales throughout the year. What began as an American shopping tradition has been embraced by Australians in a big way. The Black Friday and Cyber Monday sales provide strong momentum for Australian retailers leading into Christmas.”
Zahra advises consumers not to be too casual about their pre-Christmas purchases. “With our supply chains under significant pressure, consumers need to be shopping early if they want their products to arrive in time for Christmas. There are several issues that retailers are navigating at the moment – everything from Covid impacts, shipping delays and threats of industrial action from port workers and delivery drivers. There’s a perfect storm of issues so consumers need to get in quick to ensure they get the products they want.”
Michele Levine, CEO of Roy Morgan, confirms that November will see a significant boost in retail sales as the two most populous states emerged from lockdowns in October.
“The end of lockdowns in Sydney, Melbourne and Canberra will drive strong retail spending during the month to match, or even exceed, last year’s record”, she adds.