Online retail’s Black Friday boost continues through Christmas
Consumers spent more than four times as much on electronics online in the four days between Black Friday and Cyber Monday than the typical November daily average, according to research from the Commonwealth Bank.
Online sales of clothing and footwear rose 127 per cent, and online furniture sales rose 77 per cent.
Commonwealth Bank managing director industrial transport and consumer Nick Fletcher attributed this to the growing number of retailers taking advantage of such online sales events.
“In the lead up to Christmas, we’ve seen consumers continuing to spend more online compared to the previous few years, while also looking for bargains,” Fletcher said.
“This year, an increasing number of Australian retailers appear to be capitalising on this trend and using marketing events, such as the Black Friday and Cyber Monday weekend sales, to capture sales.”
The Commonwealth Bank data shows that overall online retail spending grew by 11.9 per cent in 2018 compared to the previous year, and online transactions rose in the lead-up to Christmas by 4.9 per cent year on year.
The average value of an individual online transaction has increased steadily over the past two years, reaching $97 in 2018, compared to $91 in 2017 and $87 in 2016.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
Inside Retail Polls
Camille Reed is under no illusions that it will be quick or easy to transition to a circular fashion economy, but s… https://t.co/P0hcgWKgAA4 hours ago
As Australian retail enters an off year, Deloitte's David Rumbens argues the grass may be greener on the other side… https://t.co/gcBZXHASrW6 hours ago