Aussies set to spend more on Black Friday sales than Boxing Day

Australian bargain hunters are expected to spend up to $10 billion on this week’s Black Friday sales which is set to eclipse the traditional Boxing Day shopping frenzy.

New research from Mozo on the shopping phenomena shows that 62 per cent of Australians will look to snare a Black Friday bargain this year.

Figures on expected holiday season expenditure estimated that Australians planned to splurge $10.2 billion on Black Friday sales in 2022 and $8.9 billion on Boxing Day.

The retail event traditionally kicks off the day after Thanksgiving in the US (the last Thursday of November) as millions of Americans rush to shops for annual price discounts.

And while Australia has no historical link to the holiday, local retailers and shoppers have happily adopted it in the same fashion as Halloween.

Australian Retailers Association CEO Paul Zahra says Black Friday has taken over Boxing Day as the country’s most important retail event. Stock image

Separate research from the Australian Retailers Association and Roy Morgan predicted Australians would spend $6.2 billion in just the four-day Black Friday to Cyber Monday weekend.

Australian Retailers Association CEO Paul Zahra said Black Friday is now “the biggest pre-Christmas event on the retail calendar”, with its popularity still growing.

Zomo found that 48 per cent of Australians planned to shop for Christmas presents during Black Friday sales.

And Salesforce figures estimated that 33 per cent of Christmas shopping is already completed in the first three weeks of November.

Electronics, toys, clothing, holiday deals, furniture, appliances and vehicles across the country are already donning colourful sales stickers ahead of Friday’s official launch.

And following that, Cyber Monday will see a worldwide lowering of item prices on digital shopping websites for those wanting more.

This year’s most in-demand items include clothes, computers, shoes, smartphones and vacuum cleaners.

But Aussies are also being reminded to be wary of overspending.

Tips include making a budget and priorities list, comparing retailers and asking for price matching and being wary of foreign exchange fees and rates.

Tim is a journalist from Sydney working for the Daily Advertiser in Wagga. He can be reached at tim.piccione@austcommunitymedia.com.au or 0436919968.

Tim is a journalist from Sydney working for the Daily Advertiser in Wagga. He can be reached at tim.piccione@austcommunitymedia.com.au or 0436919968.