The four-day shopping spree is being held from Friday, 26 November to Monday, 29 November, and according to ARA chief executive Paul Zahra, it is one of the reasons November is now Australia’s biggest shopping month of the year.
“For the past two years, November has beaten December as the biggest month for Australian retail sales throughout the year. Black Friday and Cyber Monday can be credited with this trend as people snap up some bargains and shop early for Christmas,” Mr Zahra said.
“The Black Friday and Cyber Monday sales provide strong momentum for Australian retailers heading into Christmas. The Christmas trading quarter is the most critical time of year on the retail calendar when most discretionary retailers make up to two thirds of their profits.”
Mr Zahra cautioned that with interruptions to supply chains globally, consumers need to do Christmas shopping early.
“There are several issues that retailers are navigating at the moment – everything from Covid impacts, shipping delays and threats of industrial action from port workers and delivery drivers,” he said.
Roy Morgan CEO Michele Levine said retail sales in November can expect a significant boost after around half of Australia’s population emerged from extended lockdowns during October.
“Retail sales for the Black Friday and Cyber Monday four-day shopping period are forecast to drive a surge in retail spending in November as Australians get in early for their Christmas gifts,” Ms Levine said.
“The end of long lockdowns in Sydney, Melbourne and Canberra will drive strong retail spending during the month to match, or even exceed, last year’s records.”
