Monday, October 7, 2024 Sales events like Black Friday and Cyber Monday continue to grow in popularity. Australian retailers are gearing up for a significant sales surge this holiday season, with the Australian Retailers Association (ARA) forecasting a $47.4 billion (AUD$69.
7 billion) boost in revenue over the six-week Christmas shopping period. This projection reflects a 2.7% growth compared to last year, signaling strong consumer confidence as shoppers prepare for the festive season.
Retailers across the country are optimistic, stocking up on popular items and rolling out promotional campaigns to capture the anticipated rise in holiday spending. The expected increase is attributed to Australians’ continued enthusiasm for seasonal celebrations, along with higher demand for both in-store and online shopping experiences. In addition to the Christmas peak, the research firm Roy Morgan reports that Australians are increasingly eager to participate in the Black Friday and Cyber Monday events, running from November 29 to December 2.
During these four days, spending is projected to reach $4.56 billion (AUD$6.7 billion), marking a 5.
5% increase from last year’s sales figures. This uptick in shopping activity highlights the growing popularity of these U.S.
-originated sales events in Australia, as more consumers look for pre-Christmas deals and discounts. Retailers are responding by offering extended sales periods, exclusive online deals, and competitive pricing to attract shopper.
