ShopFully, the leading European tech company in Drive to Store with presence in 12 countries, surveyed over 1,000 Australian consumers in October 2023 to reveal insight into their shopping behaviours ahead of the four-day shopping event of the year, Black Friday and Cyber Monday sales.
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32.4% of respondents are planning to buy something in the 2023 Black Friday and Cyber Monday sales, with 43.9% sitting on the fence and haven’t decided yet
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33.5% of respondents plan to complete their shopping both online and in-store, with 43.5% heading to brick-and-mortar stores only
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71.3% of respondents shared they’re eager to shop in-store because they love to physically touch and see products in person
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38% said they will head into stores as it is easier to find inspiration
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75.8% of respondents revealed they’ll be more conscious of their spending in light of the rising cost of living and inflation.
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Wanting to get Christmas shopping done early is the main reason (52.4%) respondents are shopping for Black Friday and Cyber Monday sales, followed by wanting to score a good deal (49.9%).
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Less than 1 in 5 (18.1%) plan out all their Black Friday and Cyber Monday purchases with a massive 57.5% doing no pre-panning of purchases at all.
This Black Friday:
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38.2% of respondents plan on spending between $100 – $200, and 21.1% are looking to spend $100 or less.
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25% will be spending $200-$500, while just 15.7% will be spending over $500.
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In 2022, the same question saw 33.4% of people planning to spend over $500.
Brendan Straw, Country Manager for ShopFully Australia, said: “The retail industry is gearing up for its most significant event of the year, and retailers and brands need to be ready to address the decline in consumer confidence amid rising living costs and inflation.
“This Black Friday, a survey of ShopFully respondents found that 75.8% of them plan to be more cautious with their spending. With the majority of consumers wanting to see and touch the product before they buy, retailers should focus on moving online customers into brick-and-mortar stores to see sales convert.
Aussie shoppers are primarily motivated to get their Christmas shopping done early (52.4%) and find great deals (49.9%). With the intense competition in the retail sector, a one-size-fits-all approach won’t suffice for the increasingly discerning Aussie shopper. Retailers should focus on curating unique experiences for their customers, showcasing their competitive discounts, and offering personalised incentives that will drive foot traffic to their stores.”