Black Friday predicted to overtake Boxing Day
Shoppers are looking to snag bigger bargains before Christmas
23 November 2022
- Almost two-thirds (62%) of Australians are planning to cash in on end-of-year sales, set to spend an average of $820 on Black Friday and $711 on Boxing Day sales
- Shoppers are planning on spending 25% less this year compared to 2021
- 48% of Aussies will shop for Christmas presents during Black Friday sales
- The most sought-after items in this year's sales will be clothes, laptops/computers, shoes, smartphones and vacuum cleaners
New research from financial comparison site Mozo.com.au reveals that this year, Black Friday will overtake Boxing Day as Australia's biggest retail event, with savvy shoppers looking to enjoy a cheaper Christmas.
The 2022 Black Friday Report found that Aussies are planning to spend $10.2 billion over the sale period, an average of $820 each compared to $8.9 billion on Boxing Day sales, $711 each.
“Boxing Day used to be the most popular sale event of the year, with retailers offering the biggest deals but now Black Friday is set to take the top spot, with shoppers looking to snag heavily discounted gifts before Christmas.”
While Black Friday has become the most popular sale event, shoppers are planning on spending 25% less this year compared to 2021, where they planned to spend $1,100 each according to Mozo's research.
“Many households will be working with tighter budgets, so they are going to be more conscious about where they spend their money. Black Friday sales will be a key strategy to unlocking a festive Christmas without the hefty price tag,” says Claire Frawley, Personal Finance Expert at Mozo.
Mozo’s research shows that almost half (48%) of Aussies will be looking to cash in on Black Friday deals when shopping for Christmas presents. The most in-demand items are clothes, laptops/computers, shoes, smartphones and vacuum cleaners.
“Making sales budgets go the distance could come down to comparing prices between retailers and hunting down the best discounts. To avoid missing out, shoppers should start making a list of what they want to buy and prep now before sales kick in,” says Frawley.
Sale Season Shopping Tips:
- Make a budget and plan out your purchases to avoid overspending
- Start researching the regular price of the items you want to buy before sales kick in and bookmark a buyer guide, as these pages often have all the deals aggregated in one place and are updated hourly
- Make a priority list and shop in this order, so you don’t miss out on the items most important to you
- Install discount and cashback extensions like Honey and Cashrewards to your browser
- When shopping online, make sure to compare prices between retailers, and if shopping instore don't be afraid to haggle or ask for a price match
- Remember to factor in additional shipping time if shopping online, with delays expected again during the peak retail trading season
- If buying from overseas retailers, be wary of foreign exchange fees and rates, as well as hefty shipping costs.
For more information head to the 2022 Black Friday Report.
Notes: Mozo commissioned a nationally representative survey of 2,297 Australians conducted by researchify in August 2022.