There’s no time for shopping like the present
From shopping for presents and festive food to purchasing plane and train tickets, Australian consumer spending tends to skyrocket during the holiday season. Shoppers in New South Wales were forecasted to spend over 21 billion Australian dollars during the 2023 pre-Christmas sales, the highest across Australia’s states and territories. During the same period, food was predicted to be the leading category for consumer spending, with a projected expenditure of over 26 billion Australian dollars nationwide, the majority of which consumers intended to spend at Woolworths or Coles.Despite tighter budgets in 2023, several shoppers were set to spend the same as last year by shopping smart during the festive season using strategies including utilizing loyalty points and BNPL services, searching for deals, or upcycling products. In 2023, Australian consumers started shopping early, with over 45 percent hoping to have wrapped up their Christmas shopping by the end of November. Showing love and care towards someone and making another person smile were the leading motivations for purchasing Christmas gifts among Australians in 2023; nonetheless, some buyers prioritized the usefulness of the gift.
The most important month in Australia’s retail calendar
Black Friday sales, originating in the US, have spread across the globe, with the sales period one of the most important dates in Australia’s retail calendar. The 2023 Black Friday sales were expected to kick off on the 24th of November, running across the weekend into the Cyber Monday sales on the 28th.According to a recent survey, over three-quarters of consumers intended to shop during the 2023 Black Friday sales in Australia, with around two-thirds planning to make purchases online. The leading reason for shopping during the sales was to search for good deals, with many consumers aiming to complete their Christmas shopping to beat the December rush. The clothing, footwear, and beauty products category proved to be the most popular among consumers intending to shop during the 2023 Black Friday sales, followed by the electronics, tech, and entertainment products segment. Online retailers eBay and Amazon tend to be highly visited sites during discount periods. In the 12 months to February 2023, the Black Friday and Cyber Monday sales were the leading promotional period Amazon Australia customers shopped during, followed by special discount events such as Deal of the Day.
