‘Big hit’: prominence of Black Friday boosts sales
Australian shoppers continue to lean on Black Friday sales for cheaper goods, with the discounting period now extending across all of November.
Australian retail sales rose 0.8 per cent in November, bolstered by the ever-growing popularity of Black Friday sales.
Turnover lifted across all retail categories over the month, led by a 1.8 per cent bump in department store sales as shoppers rushed to snap up hot deals.
November’s lift followed a 0.5 per cent increase in sales in October and a 0.4 per cent rise in September.
“Black Friday sales events proved once again to be a big hit, with widespread discounting and higher spending across all retail industries,” Australian Bureau of Statistics head of business statistics Robert Ewing said.
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“The popularity of Black Friday sales continues to grow with promotional activity now stretching across the entire month of November, not just solely focused on the Black Friday weekend.”
Businesses in food retailing also benefited from sales-induced spending.
“Discounts were also seen in essential goods, with businesses in food retailing boosted by higher spending due to Black Friday price cuts and points incentives through rewards programs,” Mr Ewing said.
Food retailing rose 0.5 per cent, while cafes, restaurants and takeaway food services recorded its fourth consecutive monthly increase, lifting 1.5 per cent.
Consumer budgets have been under pressure from higher mortgage repayments and cost-of-living pain but tax cuts, stronger wage growth and lower inflation have been giving incomes a much-needed boost.
