- Two-thirds of Black Friday purchases were made in-store (versus online)
- Overall spend up 4%* compared to last year (2023)
- Of the whole sales weekend, Black Friday topped Cyber Monday as day with highest spend
New NAB transaction data shows more than two-thirds of Black Friday sales were made in-store across the four-day Black Friday and Cyber Monday shopping period.
Overall spending was up 4% year-on-year despite overall transactions dropping 4%, suggesting Aussies are choosing to make fewer purchases while focusing on higher-value items.
"Australians are spending more thoughtfully and choosing quality over quantity with sales on big-ticket items like TVs, cameras, and furniture up year on year," NAB Executive Business Metro Julie Rynski said.
"Aussie consumers also continue to prioritise spending on experiences and are taking advantage of the sales period to plan ahead for their holidays, with spending soaring on cheaper airfares and car rentals.
"What's also interesting is the resurgence of in-store shopping as many of us want to see and feel products before we purchase them and want the instant gratification of taking it home with us, especially for those big-ticket items.
"This growth shows bricks-and-mortar stores are here to stay and underscores the importance of in-store shopping experiences during major sales events."
Key data included:
- Airlines spending soared by 35%. This surge indicates a strong recovery in the travel sector, with consumers eager to book flights for the holiday season.
- Car rentals spend rose 23%, likely driven by holiday travel plans.
- Electronic stores spend was up 10%, and transactions up 17%. The increase in spending on electronics indicates a strong demand for gadgets and tech products, possibly driven by gifting.
