Almost two-thirds of Australian shoppers plan to make a purchase at end-of-year sales across November and December, according to research by Monash Business School’s Australian Consumer and Retail Studies (ACRS).
The Christmas and Seasonal Retail Trends Report, now in its fifth year, confirmed that Black Friday has been gaining traction in recent years and is now Australia’s top sales event, surpassing Boxing Day.
Black Friday and Cyber Monday are set to be the most popular upcoming sales events in 2024, with 41% of shoppers planning to make a purchase this year, spending $481 on average, compared to 37% during Boxing Day sales with plans to spend $367 on averag.
The spending habits follow Christmas creep, with advertising campiagns starting earlier than traditional shopping periods.
In Australia, analysts have noted that shopping habits have changed with many getting their Christmas presents in the cupboard early, especially with Black Friday sales.
“Black Friday is a favourite among savvy Aussie shoppers who are eager to seize superior deals and start their Christmas shopping early," said Stephanie Atto, research and strategy director at ACRS.
The latest report also found 91% of Australians are planning to splurge more on Christmas gifts for family and friends this year compared to 88 per cent in 2023.
Australian shoppers estimate they will spend $474 on Christmas presents for immediate family, compared to $277 for extended family, $175 for friends, all of which are up from 2023.
Half expect to purchase clothing, footwear and accessories as part of their Christmas shopping.
Other popular products purchased for Christmas this year include gift cards and vouchers (36%), food and beverages (35%), books and stationery (34%), toys and games (33%), and personal care items (28 per cent).
Physical stores remain the most popular channel for Christmas purchases in 2024, with 84% of Australian shoppers planning to visit stores to do their Christmas shopping.
Atto said Christmas retail seems to begin earlier each year and 2024 is no exception.
“This is in part due to the ever-expanding Australian retail sales calendar, particularly events that have sprung up in November in the past two decades,” Atto said.
“Traditionally a month void of sales, November is now the busiest month in the calendar due to the adoption of popular international events, such as Black Friday and Singles Day, counterculture movements, such as Green Friday and Colour Friday, and dedicated eCommerce sales, such as Cyber Monday and Click Frenzy.
“With cost-of-living pressures and elevated inflation an ongoing concern for Aussies, these sales events offer a welcome reprieve and an opportunity to snatch a bargain in time for Christmas.”
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