Black Friday bargain hunters: Australians set to drop $1.7 billion on pre-Xmas sales

• • • • Almost 9 million Australians will shop the sales
      • Gen Z will spend six times more than baby boomers
      • How to take advantage of the sales

23 November 2020, Sydney, Australia – Despite the financial fallout of the pandemic, sales season is still set to bring in more than $1 billion, new research by Finder, Australia's most visited comparison site reveals.

A recent Finder survey of 1,011 people revealed that 46% of respondents – equivalent to 8.9 million Aussies – plan on shopping during sales season this year.

The average Aussie shopper plans on spending $191 during sales season – totalling $1.7 billion across Australia.

The research also found that 54% of respondents won't be shopping during sales season this year.

That is almost double the number of people that weren't shopping when compared to last year (29%).

Kate Browne, personal finance expert at Finder says that COVID-19 has forced many to reconsider their spending.

"This year has been tough on many of us, with some Aussies needing to cut back on any and all discretionary spending.

"You might not have the luxury to splurge on sales items for yourself, but you should make the most of discounts to save on your Christmas shopping."

"If you're purchasing presents online check the estimated delivery date. The postal service is still experiencing delays, especially if you're ordering from overseas."

The sale most Aussies plan on shopping is Boxing Day (29%), followed closely by Black Friday (26%) and Cyber Monday (13%).

"If you're going to shop the sales head online. Not only will you get a better selection of deals, but you'll beat the crowds too – which is an attractive bonus in today's COVID-19 climate."

"Online retailers are notorious for big discounts on Black Friday. We're already seeing 50% off from Amazon on its Christmas Shop, and 20% off selected items at eBay."

The research also found that 1 in 8 (13%) plan to spend over $500 during the sales season.

Browne urges Aussies to stay sensible with their spending.

"It can be tempting to splash out during a sale, but don't be coaxed into spending more than you can afford.

"We're living through a period of uncertainty, so now is the time to shore up your finances.

Younger Aussies will be splurging the most with gen Z spending $318 – that's over six times the average spend of a baby boomer shopper ($48).

"If you plan on shopping the sales, compare discounts between different retailers. You might be able to find the same item for a cheaper price by shopping around.

"Write yourself a list of all the things you need and make sure to stick to it. Going in with a plan will help you avoid overspending."

How to take advantage of sales season:

• Christmas shopping. Black Friday is one month out from Christmas. This sale is getting bigger and better in Australia with many popular retailers jumping on board. Stock up on your Christmas gifts now to alleviate both the financial and time pressure that the silly season brings.
• Back to school. January can be an expensive time of year, especially if you're experiencing the financial hangover of the silly season. Consider buying things like stationery and school backpacks during the pre-Christmas or Boxing Day sales to save money.
• Workwear. If you're looking to freshen up your work wardrobe post-pandemic then check out the pre-Christmas sales. We typically see bigger discounts on fashion and beauty during Black Friday so it's a good time to score yourself a deal.