Crisis, what crisis? $50b splurge on Xmas
Buying is back. Australia's are expected to spent over $54.3 billion in the pre-Christmas period, including in the upcoming Black Friday and Cyber Monday sales event.
In a report commissioned by Australian Retailers Association and Roy Morgan, it is forecasted shoppers will spend roughly $1.5 billion more than the same period in 2019 bringing the total to $54.3 billion.
It's an increase that is heralded by retailers, considering the disruption caused to the industry by global pandemic.
CEO of the Australian Retailers Association, Paul Zahra, said he expects this years Black Friday event, which starts Friday 27th November, to be bigger than ever.
"Black Friday has quickly become a popular feature of the Aussie retail calendar, and it's a good opportunity for organised shoppers to complete their Christmas gift-shopping early," he said. "We expect this year's Black Friday and Cyber Monday event to be the biggest on record."
"We know that some retailers and centres are planning to extend Black Friday to a week-long event to spread customers over a longer period of time."
The big brands are getting on board. Birkinhead Point have released their sales, with designer Michael Kors offering an incredible 70 per cent off while Hugo Boss is taking 50 per cent off already reduced suits.
Centre Manager Rosemary Antonios, said they are looking forward to the event and are prepared for the crowd rush to be CovidSafe. "We have taken all possible measures to ensure our customers will be CovidSafe. Our retailers are also doing their bit. Nike will be implementing its queuing system with digital bookings and other retailers such as Coach are offering appointment times, so customers can safely and comfortably shop the sale," she said.