As ChannelNews reported earlier this week, OZ consumer electronics retailers including JB Hi-Fi, The Good Guys and Harvey Norman are stocking up warehouses for an entire month of Black Friday sales in the country, rather than just a single day of Black Friday sales. Now, new data now shows that retailers in the country are expecting a staggering $69.7 billion boost in sales during the six-week peak season leading up to Christmas, marking a 2.
7 per cent increase on last year’s figures. The research from Roy Morgan reveals that more Australians than ever will embrace the Black Friday/Cyber Monday sales window (29 November – 2 December) to capitalise on bargain gifts. Shoppers are set to spend a record $6.
7 billion during the four days, an increase of 5.5 per cent over the same period last year. With a cost of living crisis having gripped the country, customers are waiting for the sale season to get the best deals for the products on their wishlist.
“Shoppers are being savvier than ever with their dollars,” said Australian Retailers Association CEO Paul Zahra. “They’re looking for the best value when it comes to buying presents for their loved ones, which is why sales events like Black Friday/Cyber Monday weekend are consistently growing in popularity. We are also seeing a continued trend towards spending on little luxuries whilst some broader discretionary categories are forecasted to be in decline.
“It’s been an incredibly tough year for retailers and shoppers .
