00:00It's shaping up to be the biggest retail event of the year, with shoppers already hunting
00:08for Black Friday deals.
00:10People are planning and researching what they want prior to the sale starting.
00:14And they aren't just looking to buy Christmas gifts.
00:16I think a lot of people are shopping for themselves and want to maybe reward themselves.
00:23Maybe it's some turntable and a bit of vinyl or it could be a new TV for the family room.
00:28Australians are expected to spend a record $6.8 billion over the Black Friday Cyber Monday weekend.
00:36That's a 4% increase on last year.
00:39On average, they'll fork out $804 each.
00:43November's become the new December when it comes to a lot of Christmas purchases.
00:48And Black Friday is driving a lot of that activity.
00:51Consumers say they're trying to beat the Christmas rush.
00:54Inflation is going really high, so we're going to get some discount on Black Friday.
00:58I'm going for a Christmas party, so I think it's the right time to get a gift right now.
01:03A recent study by economic think tank E61 found that when the Reserve Bank hiked interest rates
01:09in 2022 and 2023, higher levels of savings meant the RBA changes took longer to have an impact.
01:17Mortgage holders are using their offset accounts as a buffer.
01:21The Reserve Bank's now expected to keep the cash rate on hold until next year and some economists
01:26even think the next move might be up rather than down.
01:30We would be very concerned if there were any future interest rate increases, they would
01:35most certainly have an impact on consumer spending.
01:38For now, retailers reap the rewards as Australians continue to splash the cash.
01:43Inflation has been passed on and of course, they are 음...
01:45Inflation has been to the solves range of maximumấtion.
01:47Go on.
01:48Inflation has been to the leverage, if there are many young people who have managed to
01:50solve this issue, they have a lot of issues for the future.
01:51For then, the price of the President has been a very large volume of this year and the
01:53heart has been a great deal for the future.
01:55Inflation has been a great deal of understanding of the sake of the bearers in theитком
01:57system.
01:59The second thing that we will take people's eyes A number of the fears
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