Australians have long been keen bargain hunters and the huge popularity of Black Friday sales in recent years has rubber-stamped the decades-long addiction.

This year’s four-day Black Friday/Cyber Monday blowout runs from November 25th to November 28th and is set to be the most lucrative yet.

According to research from the Australian Retailers Association (ARA), in collaboration with Roy Morgan Research, Australians are set to spend a record $6.2 billion over the long weekend period.

The Black Friday sales are the biggest pre-Christmas event on the retail calendar and its popularity is continuing to grow in Australia, said Paul Zahra, CEO of the ARA.

“The event is renowned for having the biggest pre-Christmas bargains and this year is 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 noted.

Research from Salesforce, one of the world’s most trusted CRM platforms, reveals that 25 per cent of Christmas shopping will be completed during Black Friday week alone. This follows 33 per cent of purchasing completed in the first three weeks of November.

But the average discount rate will be highest during Cyber Week, averaging 22 per cent. “We know that many people are more conscious about their household budgets with the cost of living going up and interest rates on the rise, so the Black Friday sales are an ideal time to complete your Christmas purchases, save money and ensure that your gifts are delivered on time,” added Zahra.

2023 is set to be a more challenging year with a slowdown expected to Australia’s economic growth,” he said. “But as it stands right now, consumer spending is strong and that’s set to continue over the festive trading period, which will give many businesses confidence for their most important time of the year.”

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