New Mozo research shows that two-thirds of Australians are likely to spend more money on Black Friday than on Boxing Day in 2022.
In total, shoppers are expected to spend $10.2 billion on Black Friday sales, with an average of $820 each. Meanwhile, Boxing Day will be closer to $8.9 billion in sales.
This difference sees Black Friday becoming a more important sales day on the local shopping calendar, which is especially notable as higher living costs continue to hit hip pockets.
“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,” says Claire Frawley, Personal Finance Expert at Mozo.
The research also suggests that shoppers plan to spend 25% less this year compared to 2021, though it’s hard to compare year on year budgets when the level of discounting also seems to improve annually.
Even if Aussies are impacted by higher costs generally and do plan to spend less in 2022, they’re still looking to Black Friday as a way to save big bucks on their Christmas shopping.
For many, Black Friday sales will provide a real opportunity to have a ‘festive’ Christmas without the hefty price tag.
In fact, 48% of Australians plan on using Black Friday to find deals when shopping for Christmas presents specifically, as per Mozo research.
TIP: When shopping online, be sure to compare prices between retailers. And if shopping in store, don't be afraid to haggle or ask for a price match.
Mozo’s research shows a gender divide when it comes to potential Black Friday purchases. For example, clothing and shoes are very popular with females, while tech products tend to be popular with males.
Last year shoppers were looking for similar items.
Tip: Start researching items you want before sales kick in and bookmark online sale guides. These pages often have deals aggregated in one place and are updated hourly.
Aussie shoppers have already been searching for prominent brands ahead of Black Friday ‘22, including Apple, JB Hi-Fi and Samsung, based on recent Google search trends.
Below are some of the most searched products and brands this November.
Tip: Make a priority list and shop in this order so you don’t miss out on the items most important to you.
Shoppers again seem excited about Black Friday, though it’s notable that they have tweaked their payment habits in 2022.
For example, Mozo’s research shows that some shoppers have moved away from buy now, pay later services this year and that everyday bank accounts are more popular as we head into Black Friday. Meanwhile, credit cards remain the most popular payment method overall.
Before opening your wallet to hit the sales, check out these tips for saving more:
Deals are the new way to shop for Christmas presents and upgrade everyday items ahead of the new year. But before diving head first into the upcoming Black Friday sales, check out Mozo’s online shopping hub for more ‘how-to’ guides and money saving tips.
Remember, preparation is key when it comes to getting the best deals.
Most believe Black Friday came about when shops began to profit or move ‘into the black’ the day after Thanksgiving. There’s some truth to this. However, there’s more to the name: American police used the term to describe the chaos of crowds seen between Thanksgiving Day and the Army-Navy football game. During this time, massive crowds of shoppers would swarm shopping centres, and police would clock extra hours to control the traffic. It wasn’t until the late 1980s when ‘Black Friday’ shopping became a sensation people looked forward to each year.
Black Friday has become so popular that you'd be hard pressed to find a store that skips it! If there's a big name brand you like - be it Myer, eBay, The Good Guys, JB Hi-Fi, The Iconic, Amazon or Dyson - chances are they will be having a Black Friday sale!
That's why it's important to track the sales early, as we do here on Mozo.
Black Friday typically runs a whole weekend - from Friday to Monday. This year the official Black Friday start date is Friday, 25 November, 2022, and sales will likely end by Cyber Monday, 28 November, 2022.
Black Friday officially begins on Friday, 25 November 2022 and typically lasts until Cyber Monday (28 November this year). After Cyber Monday finishes, most of the big deals will be over.