Black Friday overtakes Boxing Day as top shopping event of the year
Black Friday has surged past Boxing Day as Australia’s top retail event, according to new research from Future Publishing Australia, Mumbrella can reveal.
The remarkable shift in consumer behaviour comes as 50% of Aussies plan to participate in the Black Friday and Cyber Monday deals, compared to only 32% for Boxing Day sales.
This is according to Future Publishing Australia’s inaugural Consumer Confidence Report, and ahead of the holiday retail period, hopes to encourage retailers to capture the eyes of undecided shoppers.
45% of shoppers plan to find their Black Friday deals online, which also presents new opportunities for e-commerce retailers.
According to Chris Ferguson, commercial director APAC at Future Publishing Australia, the popularity of Black Friday in the local market marks a “pivotal” change in the retail landscape. With nearly 60% of Aussies getting a jump start on their holiday shopping, the research highlights growing enthusiasm, but also the pressures of the cost-of-living crisis and the need to take advantage of sales.
“Black Friday’s rise to the top of the sales calendar signals a new era in Australian retail,” Ferguson explained.
“Consumers are increasingly drawn to the prospect of early savings and the convenience of online shopping, so retailers anticipate and accept this new reality to capture their share of the market.”
Ferguson said retailers have a “unique chance” to engage these shoppers, with 40% remaining undecided on their purchasing decisions.
“Consumers are primed to buy online, and our research shows many consumers are still open to persuasion, so brands can still engage undecided shoppers with strong deals,” he said.
“Shoppers are especially sensitive to price and value this year, given the cost-of-living pressures, so retailers that offer competitive deals, along with convenience, will be well-positioned to capture those undecided buyers.”
Despite the current economic climate, the research shows that many Australians are resilient in their festive spending plans. 56% of Australians still plan to spend the same amount as last year on Christmas gifts, while 21% intend to spend more. This indicates that, while financial challenges exist, the holiday spirit is strong and consumers are eager to celebrate.
“Even with the pressures of rising living costs, Australians are finding ways to invest in the holiday season. Retailers have an important role to play in this landscape by providing value-driven offers that appeal to budget-conscious shoppers,” Ferguson said.
Consumers are also taking advantage of Black Friday sales for ‘big-ticket’ spending, according to the report. Fridges, washing machines, and more, are being eyed-off by Australians looking to refresh their homes.
Ferguson concluded: “This is a critical moment for retailers to present enticing Black Friday offers on those big-ticket items, combined with a seamless shopping experience, to sway buyers.”
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Lauren McNamara is the associate editor at Mumbrella, covering the creative and PR beat. She joined in November 2022 as editorial assistant, after completing a Bachelor of Communications (Journalism) at UTS.
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topics
black friday
Black Friday sales
Boxing Day
boxing day sales
Chris Ferguson
Christmas
Consumer Confidence Report
Cyber Monday
Future Publishing Australia
retail
shopping
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