Australians are expected to spend almost a million dollars this Black Friday and Cyber Monday, according to new NAB economics analysis.
In 2020, the City of Casey was home to the most active shoppers in Victoria, and this year is predicted to follow suit.
Online and physical tills are expected to ring to the tune of $5.5 billion around the country, with a total of $1.45 billion in Victoria.
Computers, appliances, games, toys, clothing and cosmetics are forecast to be among the most popular purchases, based on data analysing previous year’s spending trends.
NAB group executive personal banking Rachel Slade said the shopping season was well and truly underway.
“Despite originating in America, Black Friday and Cyber Monday are now a shopping bonanza in Australia, with $5.5 billion expected to be spent,” Ms Slade said.
“One in six of all November retail sales happened during this four-day period last year and we’re anticipating similar trends this year as the economic bounce back continues.
“Our most recent estimates show e-commerce makes up about 15 per cent of all retail sales during the year, but this surges to almost 30 per cent during this discounted shopping period.”
Ms Slade said preparation was critical for shoppers planning to bag a bargain.
“Now’s the time to set a budget, research prices and plan your shopping experience,” she said.
Black Friday and Cyber Monday occur on Friday 26 November and Monday 29 November 2021 respectively.
