With the increased convergence of physical shopfronts and online stores, Australian retailers managed to boost sales significantly over the Black Friday and Cyber Monday weekend. Here are the figures.
Black Friday and Cyber Monday originated from the US and Australian businesses have adopted these retail holidays, providing one-off discounts that tempt consumers to spend. This year, Black Friday discounts helped increase in-store sales for Australian retailers by 7% year-on-year, according to data from cloud point-of-sale software vendor Vend.
This could be attributed to the fact that in-store discounting on Black Friday this year was 15% higher that the November average and was up 3% from last year.
While Black Friday traditionally involved big discounts at physical stores and Cyber Monday when shoppers could fetch a bargain online, a number of Australian retailers decided to change things up. Many of them ran in-store sales in conjunction with their online outlets across multiple days.
“Bringing together brick-and-mortar and online is hugely valuable for retailers, as consumers demand options in how and where they shop, at any time of the year,” Vend founder Vaughan Rowsell said.
Melbournians seem to be keen shoppers, increasing retail sales by 17% in the city compared to the average Friday in November. That figure was 12% in Sydney, 7% in Brisbane and only 1% in Perth.