New consumer research by the Commonwealth Bank of Australia reveals Australians are delaying purchases until this year’s Black Friday and Cyber Monday sales to help ease cost of living pressures.
For those not in the know, Black Friday and Cyber Monday fall on Friday 25 November and Monday 28 November respectively.
When asked why they plan to shop the Black Friday to Cyber Monday sales, half of shoppers (50 per cent) said they want to save money on items they know they’ll need in the new year, while almost 2 in 5 shoppers (39 per cent) said they were delaying their normal purchases until the sales, due to the rising cost of living.
CBA’s consumer research reveals that more than half of Australians (61 per cent) are planning to spend less on Christmas this year, and in an effort to stick to a smaller budget, over a third (38 per cent) of Black Friday and Cyber Monday shoppers will be on the lookout for Christmas presents this sales period.
CBA General Manager, Shopping, Rochelle Eldridge, said: “Elevated inflation and higher prices are putting pressure on many households which is making everyday savings top of mind for many Australians”.
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