Black Friday weekend a bonanza for retailers

  • By Zilla Efrat

Australian retailers experienced a robust four-day sales period from Black Friday through to Cyber Monday, early merchant data from Commonwealth Bank shows.

According to the data, spending over the four days from Black Friday to Cyber Monday jumped 7 per cent when compared with the same Black Friday sales period in 2019.

Clothing, cosmetics and electronic retailers experienced the biggest jump in spending, with sales soaring 28 per cent, 33 per cent and 29 per cent respectively across these businesses compared to the same four days from the week prior.

“It’s no surprise to see Aussies looking to refresh their wardrobes given that many parts of the country have recently emerged from an extended period of lockdown, and retailers are providing attractive discounts to encourage discretionary spending,” says Jerry Macey, head of consumer and diversified industries in CBA’s Business Banking division.

“In addition to refreshing their own wardrobes, it would seem many Australians were also keen to take advantage of the sales and get an early start on their Christmas shopping.

“Businesses are acutely aware of how popular the Black Friday to Cyber Monday period has become with customers in recent years, and are successfully using the opportunity to attract new customers, win Christmas sales from competitors, and emerge from this recent period of lockdown with some strong momentum that can put them in good stead for the New Year.”

But while spending at Aussie retailers over the four-day Black Friday to Cyber Monday period was up in comparison to 2019, it was relatively flat in comparison to 2020.

Macey says this is largely unsurprising given that supply chain challenges associated with the global health pandemic over the past two years has encouraged Australians to start their Christmas shopping early to ensure they receive their purchases on time.