Retailers expect multi-billion dollar spending this weekend as Australians grab a bargain in sales from Black Friday to Cyber Monday.
The Australian Retailers Association predicted sales worth $ 5.4 billion over the weekend, a major boost for retailers after another difficult year due to the impact of lockdowns. COVID-19 in various parts of the country.
The four-day shopping period, November 26-29, originated in the United States to coincide with the Thanksgiving holiday and has become increasingly popular in Australia as people shop early for Christmas.
A National Australia Bank analysis estimates that nearly $ 1 million per minute will be spent during the shopping spree.
Computers, appliances, games, toys, clothing and cosmetics are expected to be among the most popular purchases, according to data analyzing spending trends from previous years.
“One in six retail sales in November occurred during this four-day period last year and we expect similar trends this year as the economic rebound continues,” said Rachel Slade.
The Commonwealth Bank of Australia also notes from merchant data that sales during the four-day Black Friday sales period of 2020 were 10% higher than in 2019, bodes well for the effort of 2021.
“Buyers across the country are increasingly taking advantage of the recent trend towards pre-Christmas discounts and we expect that trend to continue this year,” said Jerry Macey, head of consumer and diversified industries at CBA. .
The NAB expects online and physical checkouts to be worth $ 5.5 billion nationwide, with NSW setting the tone with a madness of $ 1.74 billion, followed by Victoria for $ 1.45 billion. dollars and Queensland for $ 1.12 billion.
Australia Post is also gearing up for a hectic weekend as savvy shoppers take full advantage of online sales and have their Christmas presents sorted well ahead of the last recommended mailing dates.
“We know people are watching big online sales events closely and planning in advance what they want to buy, so we expect this year to be huge,” said Gary Starr of Australia Post. .
Associated Australian Press