Black Friday 2021: Aussies set to spend $3.8 billion
New data from Finder shows approximately 8.9 million Australians will take part in Black Friday, with a predicted $3.8 billion to be spent on deals.
Many retailers are gearing up for Christmas spending, but it turns out there’s another shopping holiday quickly taking the limelight before we even hit December: Black Friday.
New data from Finder shows approximately 8.9 million Australians will take part in the shopping event, with a predicted $3.8 billion to be spent on deals.
The shopping bonanza originated in the US and takes place on the Friday following Thanksgiving. It also includes Cyber Monday, an additional event originally created to encourage people to shop online before e-commerce became more widely accessed.
This year, Black Friday falls on Friday, November 27, with Cyber Monday falling on November 29.
And thanks to the boom in e-commerce spending, this Black Friday and Cyber Monday sales period could actually be the biggest sales season ever for Australia, personal finance expert at Finder Kate Browne said in a statement.
“Spending has been cut largely due to ongoing restrictions so Australians are excited to splash some cash post-lockdown,” Browne said.
“Forking out on holidays, personal grooming and going out simply stopped being possible, so many will be making up for lost time.”
Data from Shopify backs this prediction, showing 44% of Aussie shoppers plan to spend about the same amount as they did in 2021, while 40% are planning to spend more.
What do customers expect for Black Friday?
The pandemic changed shopping all over the world, with a significant boom in e-commerce spending taking place as brick-and-mortar stores were locked down and unable to operate.
While Australia’s in-store retail is now back open across the country, the data from Shopify still shows 90% of Aussie shoppers will stick with online spending during Black Friday — and only half plan to stop in-store in some capacity.
Shopify’s managing director APAC Shaun Broughton makes it clear that despite the discounts retailers will be offering, certain customer expectations remain when it comes to e-commerce transactions.
“Consumers are prepared to make adjustments in how they shop to accommodate COVID-19, but will not make concessions in certain areas, such as shipping or delivery options,” Broughton said in a statement.
“The agility of the Australian shopper has been tested, and they expect rewards for their propensity to adapt.
“As merchants have evolved and re-imagined retail in creative new ways throughout the challenges posed by 2021, shoppers too have adjusted their habits, preferences, and expectations in tandem.
“Shopping online will continue to be the dominant way for bargain-hunters to nab a deal this Black Friday long weekend.”
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