ARA tips Australians to spend more during this year’s Black Friday
Shoppers expect to spend $6.36 billion during the upcoming Black Friday/Cyber Monday weekend from November 24 to 27, up 3 per cent from last year, a research by the Australian Retailers Association (ARA) and Roy Morgan shows.
The increase is a positive sign for retailers amid the anticipated softening in pre-Christmas spending, according to the ARA.
Many Aussies are also likely to purchase gifts for Christmas during the Black Friday sales.
“While projections are looking somewhat flat for the pre-Christmas period, retailers will be pleased that the Black Friday weekend sales event appears set to buck this trend,” said ARA CEO Paul Zahra.
“More and more consumers are being budget-conscious in light of the cost-of-living crisis, so the Black Friday sales are an ideal time to grab a bargain and save some unnecessary stress the weeks before Christmas.”
The ARA predicts that $66.8 billion will be spent in the November to December 24 trading period, up by a marginal 0.1 per cent from last year.