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Black Friday 2022 Survey: Aussies are Set to Spend Big on Clothes and Electronics This Black Friday

Savvy examines Black Friday/Cyber Monday and Christmas spending sentiments in Australia
Published on November 22nd, 2022
  Written by 
Adrian Edlington
Adrian Edlington is PR & Communications Manager at Savvy. With a keen interest in personal finance, car loans, the mortgage industry, cost of living pressures, electric vehicles and renewable technology, Adrian's research includes conducting primary data surveys and analysis of up-to-the-minute secondary Australian data sources. His work on behalf of Savvy has been featured on ABC.net.au The Conversation, the Sydney Morning Herald, AFR, News.com.au, The Age, Herald Sun, Adelaide Now, SBS On The Money, 7News, Car Expert, Which Car, Drive.com.au and more. In his spare time, Adrian enjoys mountain biking and business podcasts.
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   Commentary by 
Bill Tsouvalas

Guest Contributor

Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
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Black Friday and Cyber Monday Shoppers in Australia 2022

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As part of Savvy’s ongoing research into consumer behaviour and economic wellbeing, we take a look at spending habits of Australians around the “Black Friday” and “Cyber Monday” pre-Christmas sales.

  • 59% of Aussies going to spend on clothes and shoes; 35% on electronics
  • 51% say they won’t be spending as much this festive season as they did last year
  • 56% are likely to spend $500 or less

A new representative survey conducted by Savvy of 1000 Australians shows that clothing & shoes, beauty, electronics and toys retailers are set to sell the most this Black Friday.

Clothes and apparel were the overwhelming favourite of Black Friday shoppers, with 59% signalling purchase intent (when selecting their top three product categories from a list of eleven options). Next in line were consumer electronics (35%), toys (23%), and cosmetics (22%).

56% of Australians will be spending up to $500 on Black Friday and Cyber Monday sales this November.

The survey tracking consumer behaviour this holiday season, found 22% said they would be spending between $101-$250 during Black Friday, with 18% saying they’d spend up to $100, and 16% saying they’d spend between $251-$500.

A little under a third (32%) of Australians won’t be taking part at all. This may be due to high inflation and higher interest rates which jumped from a record low 0.1% to 2.85% over the first and second quarters of 2022.

Black Friday in Australia 2022 - Survey Infographic

Savvy spokesperson Adrian Edlington says Black Friday sales shift the bargain buying period to before, instead of after, Christmas.

Savvy Spokesperson, Adrian Edlington;

“People are planning to spend this Black Friday – especially on electronics, clothing, beauty products and toys – most likely because it’s the best way to save money on Christmas shopping. Actually, it is surprising that more Australians aren’t planning to get in on these sales, especially after battling high costs of living pressures throughout the year.

Taking advantage of sales is the number one way to save on presents and gifts this festive season.”

Black Friday was originally a clearance retail sales event originating in the United States, where shoppers would line up at department stores (often in freezing conditions) to snap up bargains after the holiday of Thanksgiving – much like Boxing Day sales in Commonwealth countries. The “Black” Friday signifies retailers being “back in the black” after being in the “red” for much of the year.

These sales were extended online into “Cyber Monday” during the dot com boom in the early 2000s.

How much Australians plan to spend on Black Friday and Cyber Monday in 2022
What Australians are planning to spend money on during Black Friday and Cyber Monday sales in 2022

When is Black Friday and Cyber Monday?

Black Friday will commence on the 25th of November, with Cyber Monday taking place on the 28th of November. Many retailers are offering Black Friday and Cyber Monday sales in the days prior and after the actual events.

Christmas spending

The survey showed that over half (51%) say that they won’t be spending as much this festive season as previously.

43% said that rising inflation and cost of living will have a negative impact on the festive season this year, with 24% saying it will have a “significant” negative impact.

31% said they’d be spending equal to what they spent last year, despite goods costing more; 12% said they will be spending more despite higher prices. 7% reported they’d be avoiding festive season altogether.

This may be offset by spending in these pre-Christmas sales rather than dealing with recommended retail prices in the lead up to Christmas.

For anyone looking to cover their costs this season, they can compare available personal loans as a means to avoid expensive forms of debt, such as credit cards. 

Savvy, Festive Season 2022 survey, (n=1000)

Nationally representative survey of 1000 adult Australians, aged 18 and over. Conducted by Octopus Group, on behalf of Savvy.

Completion date: 1/12/2021

Age groups:18-24, 25-34, 35-44, 45-54, 55-64, 65+

Gender breakdown: male n=503, female n=495, non-binary /prefer not to say n=2

Representative of state and territory populations:

NSW n=299 (32.3%), Vic n=253 (25.1%), Qld n=196 (20.2%), SA n=82 (7.2%), WA n=114 (10.6%) NT n=12 (0.7%), Tas n=12 (2.2%), ACT n=19 (1.7%)

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Savvy is one of Australia’s largest online financial brokers, focusing on personal and commercial financial products. Founded in 2010, the firm has seen rapid growth, a testament to their provision of market leading rates and reaching customers with the latest in media and technology. Savvy is a proud supporter of Kids Under Cover, a charity assisting homeless and at-risk youth to strengthen their bonds to community and education. Savvy was named one of BRW’s fastest growing companies in 2015.

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Black Friday and Cyber Monday Shoppers in Australia 2022

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