Black Friday – Cyber Monday sales set to be biggest on record - video Dailymotion

ABC NEWS (Australia)

Black Friday sales are widely expected to be the biggest on record with shoppers spending billions of dollars on big deals. New research has found consumers are feeling confident about the economy for the first time in nearly four years.

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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

Black Friday – Cyber Monday sales set to be biggest on record

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