Almost two-thirds of Australian shoppers plan to make a purchase at end-of-year sales events across November and December, according to the annual survey by Monash Business School’s Australian Consumer and Retail Studies (ACRS).
The Christmas and Seasonal Retail Trends Report, now in its fifth year, confirmed that Black Friday has been gaining traction in recent years and is now Australia’s top sales event, surpassing Boxing Day.
Leading this research is Ms Stephanie Atto, Research and Strategy Director at ACRS.
“Black Friday and Cyber Monday are set to be the most popular upcoming sales events in 2024, with 41 per cent of shoppers planning to make a purchase during this year’s sales event with plans to spend $481 on average, compared to 37 per cent of shoppers planning to make a purchase during Boxing Day sales with plans to spend $367 on average,” said Ms Atto.
“Black Friday is a favourite among savvy Aussie shoppers who are eager to seize superior deals and start their Christmas shopping early.”
The latest report also found 91 per cent of Australians are planning to splurge more on Christmas gifts for family and friends this year compared to 88 per cent in 2023.
Amongst the report’s key findings:
- Australian shoppers estimate they will spend $474 on Christmas presents for immediate family, compared to $277 for extended family, $175 for friends, all of which are up from 2023.
- Half of Aussie shoppers expect to purchase clothing, footwear and accessories as part of their Christmas shopping. Other popular products purchased for Christmas this year include gift cards and vouchers (36 per cent), food and beverages (35 per cent), books and stationery (34 per cent), toys and games (33 per cent), and personal care items (28 per cent).
- Physical stores remain the most popular channel for Christmas purchases in 2024, with 84 per cent of Australian shoppers planning to visit stores to do their Christmas shopping.
Ms Atto said Christmas retail seems to begin earlier each year and 2024 is no exception.
“This is in part due to the ever-expanding Australian retail sales calendar, particularly events that have sprung up in November in the past two decades,” Ms Atto said.
“Traditionally a month void of sales, November is now the busiest month in the calendar due to the adoption of popular international events, such as Black Friday and Singles Day, counterculture movements, such as Green Friday and Colour Friday, and dedicated eCommerce sales, such as Cyber Monday and Click Frenzy.
“With cost-of-living pressures and elevated inflation an ongoing concern for Aussies, these sales events offer a welcome reprieve and an opportunity to snatch a bargain in time for Christmas.”
When it comes to Christmas gifting, purchased gifts will be the most popular present followed by money, while some Aussies will give handmade gifts to others – especially to extended family, friends and colleagues.
“I suggest if Australian shoppers haven’t already started writing their Christmas lists, do so now and get shopping to nab yourself – and maybe your loved ones – a bargain,” Ms Atto said.
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