Aussies don’t plan to treat themselves during the Black Friday sales, but intend to use the discounts to stock up on essentials due to the cost of living crisis, new research has found.
Aussies will splash out $675 million during this year’s sales, with a lot of it on boring things, according to the study by bank ING.
Aussies will prioritise toilet paper, sponges and dishwashing tablets during the sales, with demand for essential household items up almost 10 per cent year on year.
Shoppers are willing to spend an average of $184 each, or $675 million nationwide, on these essential items.
Matt Bowen, Head of Consumer and Market Insights at ING Australia, said Aussies were being “savvy” with their spending.
“This year’s Black Friday survey by ING shows that Australian consumer sentiment may be improving, however, many Aussies are using this year’s sales to shop savvily, spending more on household essentials and buying their Christmas gifts in advance due to the rising cost of living,” Bowen said.
Despite the increased interest in Black Friday sales this year, 40 per cent of Aussies are skipping them completely due to the cost of living.
Black Friday is inspired by the USA’s traditional day-after-Thanksgiving discounts.
This year, Black Friday is on Friday, 29 November.
However, the sales are increasing in popularity, with 58 per cent of Aussies intending to shop the sales this year – an increase of 17 per cent since 2020.
However, more than nine in 10 admitted the cost of living has had an impact on how much they plan to spend during the Black Friday or Cyber Monday sales this year.
ING advises using comparison websites before you buy to make sure you’re getting the best deal.
