More than 60% of Australians are intending to get at least half of their Christmas shopping done over Black Friday and Cyber Monday, an eBay survey of 2,011 has revealed.
On 25 November, the first Friday after Thanksgiving in the United States, will see retailers temporarily offer heavy discounts to mark the beginning of the Christmas spending period.
The bargains will continue over the following weekend, into 'Cyber Monday', where online vendors traditionally offer online shopping discounts.
The annual sales events will be welcomed by households struggling to incorporate gifts into increasingly stretched budgets as inflation continues to rise, according to eBay Australia's Sophie Onikul.
"As families grapple with the cost of living, budgeting for the festive season is going to be a top priority," Ms Onikul said.
"Two thirds of Aussies surveyed say the price of toys is a major factor in deciding which gifts they will buy this year.
"More than ever, Black Friday and Cyber Monday are the perfect opportunities to nab a bargain."
To further battle cost of living pressures, eBay's survey suggests one in three Australians are looking to sell items they no longer use to offset their spending, whilst more than 30% of respondents would consider giving out pre-owned gifts.
The survey also shows over one in five Australians are considering passing on unwanted gifts they have previously received.
"As affordability and sustainability are top of mind, re-gifting can give unwanted items another life and help to extend Christmas budgets." Ms Onikul commented.
The Australian Retailers Association predicts a record breaking $6.2 billion outlay over the four day period, up $200 million on 2021.
However those shopping online have been warned to be extra cautious with a predicted uptake in fraudulent promotions.
Steve Moros, Senior Director at Proofpoint, expects cyber criminals to try to take advantage of the widespread sales.
"The influx of emails from brands offering great deals during the Black Friday and Cyber Monday shopping period makes it an opportune time for cyber criminals to capitalise on the spike in email traffic and target shoppers with creative and convincing lures," Mr Moros said.
"As Australians search the internet and check their inboxes for the latest shopping bargains, it's important to remain vigilant and keep safe shopping practices front of mind."
Proofpoint recommend avoiding links in emails and trying to stick to known website addresses, as attackers often create lookalike sites that imitate familiar brands.
Advertisement
Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market.
Provider | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4 | 0 | 0 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
| FEATURED | High Interest Savings Account (< $250k)
| ||||||||||||
High Interest Savings Account (< $250k)
| |||||||||||||
| 4 | 0 | 0 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
| FEATURED | Savings Account (Amounts < $250k)
| ||||||||||||
Savings Account (Amounts < $250k)
| |||||||||||||
| 0 | 1000 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
| FEATURED | Saver Account (<$250k)
| ||||||||||||
Saver Account (<$250k)
| |||||||||||||
| 0 | 200 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
| No monthly fees | Save Account
| ||||||||||||
Save Account
| |||||||||||||
- A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
- No withdrawal notice periods or interest rate penalties
Photo by Markus Spiske on Unsplash
Brooke Cooper
Harry O'Sullivan
Rachel Horan
William Jolly
