Australians are set to spend almost $7 billion in just four days during this year's Black Friday-Cyber Monday sales, as the cost of living sees more shoppers eager to snap up a bargain.
Black Friday sales are renowned for causing a frenzy for retailers, but Jason Daniel's business is already in the thick of it.
It's still a surreal experience for the entrepreneur, who has gradually built the business since 2007. As spending flatlines, discounting doesn't appear to have the same effect it used to, sparking warnings of looming retail collapses. " cost of living is certainly driving the way that people are spending this year, they're on the hunt for a bargain and value for money, and Black Friday really offers that," she said.Buy now, debt later?
"Australian consumers have become incredibly savvy, especially when it comes to sales periods … so that an item is a lot more affordable," he said. "If you see an offer that you think that offer is just too good to be true, it probably is," said the head of the consumer watchdog, Gina Cass-Gottlieb.The Black Friday-Cyber Monday sales are the first major sales event since the stage 3 tax cuts came into effect.Photo shows A red sign with white block letters that read "Sale" in a shop front window.
Cyber Monday Sales Black Friday Sales Black November Sales Christmas Shopping Retail Spend Money Cost Of Living Lskd Afterpay Online Shopping National Debt Helpline Accc Roy Morgan Australian Retailers Association Inflation Interest Rates Reserve Bank Rba
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