Aussies expecting an average 37% discount during Black Friday sales: ING research

With each passing year the size and popularity of the Black Friday and Cyber Monday sales in Australia seems to grow, but with both now just days away, new research has revealed that COVID-19 has shifted expectations and behaviour among Aussie shoppers.

According to a recent survey of 1,053 Australians commissioned by ING, over two-thirds (69%) of Black Friday shoppers are expecting to grab a larger discount than normal - largely because of the financial effects of the pandemic.

ING found that, on average, people are expecting a discount of 37% in the sales, with one in five anticipating discounts of at least 50%.

“It’s a telling sign of the times that Aussies are looking to Black Friday and Cyber Monday as a way to make big savings. As the sales get bigger every year, it’s great to see so many are striving high when it comes to discounts and getting smart with navigating the best deals,” said ING Australia’s head of daily banking, George Thompson.

“The research also shows there’s been a significant shift from in-store Black Friday shopping to online, and it’s great to know shoppers are employing savvy tactics like comparing websites to bag a bargain for Christmas and set themselves up for the year ahead.”

As Thompson alluded to, many will be pursuing their bargain hunting exclusively via online shopping (68%) compared to 48% who will be looking for bargains in bricks and mortar stores. However, Australians won’t necessarily be heading to international online retailers, with ING’s research finding that 61% of shoppers will be looking to support local businesses.

But what are people actually looking to buy during the Black Friday sales?

Perhaps unsurprisingly, clothing (49%) and technology (40%) were among the most popular priorities cited by survey respondents, and with borders starting to reopen, travel and accommodation (17%) also appeared high on shopping lists.

ING also found that plenty of savvy shoppers will be looking to take advantage of the upcoming sales to grab Christmas presents and even birthday gifts for friends and family while the going’s good.

The Black Friday and Cyber Monday sales aren’t without their potential pitfalls though, which is why ING has laid a few handy tips for shoppers:

1. Stick to a budget: While discounts are always tempting, ING says that shoppers will find it easier to avoid overspending and making impulse purchases by establishing a price point which they won’t go above. This shouldn’t be any old figure, but based on your own budget.
2. Watch out for scams: Scams of all varieties appear to have surged during the pandemic - including online shopping scams. So with that in mind, ING’s advice to shoppers is to only shop on genuine, reputable websites.
3. Avoid postage delays: Unfortunately the usual Christmas postage delays are likely to be supercharged this year by the impacts of the pandemic, so ING says that utilising Black Friday sales could be one way to beat the festive rush.
4. Beware of international fees: If you are looking to shop online via an international website, ING has reminded shoppers to be aware of the potential international transaction fees that many banks charge debit and credit card customers.

RELATED: How to snag the best Black Friday deals with Afterpay

Searching for a new payment option for your next shopping adventure? Compare buy now pay later, credit card and debit card offers using our respective comparison hubs, or get started straight away by looking over some great debit card deals (including ING’s) in the table below.