Wednesday, June 19, 2024

Shoppers set to spend almost $2.3 billion on Boxing Day sales

Millions of Australians are set to shop the Boxing Day sales this year, according to new research by Australian comparison site Finder.

A Finder survey of 1039 respondents revealed almost one in three (32%) Australians – equivalent to 6.5 million people – plan to shop the Boxing Day sales.

Shoppers are expected to fork out $356 each, totalling $2.31 billion across Australia.

Spending is more common amongst gen Y ($432) and gen Z ($354), while gen X ($292) and baby boomers ($208) will remain more vigilant with their money.

The research found women ($395) plan to splash out more than men ($312) on the sales.

Finder shopping expert Chris Jager says Boxing Day is one of the most highly anticipated sales events following Black Friday.

“We’re expecting to see a plethora of discounts both in-store and online.

“Many will be looking to the sales to save on things they’ve had their eye on or missed out on over Black Friday.”

Finder’s research reveals one in three (34%) Australians felt overwhelmed by the recent sale events.

The data shows one in four (24%) found the swarm of texts and emails unbearable.

Almost one in 10 (9%) admitted they were swept up in the frenzy and made impulse purchases they shouldn’t have.

That’s 1.8 million people who were prompted to spend frivolously on the sales events.

Mr Jager said shopping fatigue is starting to set in.

“Shoppers have been bombarded with texts and emails for months on end leading up to all the major sale events.

“Aussies are spending more than they had initially set out to do, due to fear of missing out.

“It’s important to remember that just because there’s a sale on doesn’t mean you have to spend.

“If there’s nothing you have your heart set on, save your money and yourself from a New Year debt hangover,” Mr Jager said.

How much do you plan to spend on boxing day?
Average Australian $316
Nationwide spend $2.37 billion
Source: Finder survey of 328 respondents who plan to shop the Boxing Day sales, December 2023.
Have you felt overwhelmed by the sales events? (E.g. Black Friday)
Yes, I got swept up and made purchases I shouldn’t have 9%
Yes, sales texts and emails were very overwhelming 24%
No 66%
Source: Finder survey of 1039 respondents, December 2023.

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