40+ Black Friday Statistics and Predictions for 2022
With so many different ways to shop and plenty of businesses getting in on the action, there is a lot to think about during the Black Friday sales. No matter your eCommerce niche, it’s important to stay informed on the latest Black Friday trends and capitalise on the opportunities.
Black Friday shopping in Australia has rapidly grown in popularity in the last few years, as more and more shoppers recognise the massive potential for savings and bargains. This is backed up by recent trends in Black Friday statistics, illustrating the ways in which consumers are making the most of the sales on offer.
In this article, we take a look at the 40 most important Black Friday statistics and predictions for 2022 that will shed some light on how consumers think and act during the sales, allowing you to plan ahead. We’ll be covering all of the essential areas, including shopping statistics, consumer behaviour, industry trends, statistics by country and 2022 predictions.
Black Friday statistics
- Australian retailers enjoyed a 13.2% increase in turnover during the 2020 Black Friday sales. 1
- The 2021 sales outdid the record from before the pandemic by 8%.2
- In 2021, it was predicted that over $1 million would be spent per minute.2
- Victoria was the biggest Black Friday sales spending state in 2021, spending approximately $190 million over the weekend.2
- The other east coast states were second and third, with New South Wales and Queensland spending about $163 million and $73 million, respectively.2
- The 2021 Black Friday sales in Australia had an average discount of 24%.3
- Consumers need to get in quick, as shops are likely to sell out of popular items. In 2021, there was a 258% increase in Adobe Analytics’ out-of-stock notifications from retailers.3
What this means for your store
If the trend continues, we could see a new record in sales this Black Friday. Do you have enough stock of your most popular items?
Black Friday consumer statistics
- 51% of Black Friday shoppers in Australia are male.7
- 47% are aged between 18 and 34.7
- 39% are working full time jobs.7
- 15% have a household income of $100 – $120k.7
- Online shopping is taking over, with 60% of Australians saying they are more likely to shop online versus in store.7
- 64% think that online deals will be better than in-person deals.7
- Despite this, 53% of Australians are more likely to queue to get into a store if the in-person deals are in fact better.7
- 55% of Australians are happy to browse during Black Friday and Cyber Monday even if they don’t need anything.7
- The Black Friday sales present a great opportunity for those on a budget to save some extra cash. Sam from Renovation Kingdom says he has seen an increasing number of consumers opting for BNPL (buy now, pay later) on general household items such as furniture and appliances – up to 65% of Australians. According to Sam, Black Friday is another opportunity to take advantage of great savings.12
Source: https://au.yougov.com/news/2022/09/14/uncovering-black-friday-shoppers-australia-and-sin/
- 46% of Australian Black Friday shoppers recall seeing advertisements on business websites, the highest percentage of any category listed.7
- Facebook advertisements were the next most commonly recalled category at 40%.7
- Television and Instagram advertising were next, with 39% of Australian shoppers recalling seeing ads on both platforms.7
- Finally, YouTube advertisements were recalled by 31% of Black Friday shoppers in Australia.7
- In 2019, online purchases in Australia exploded during the Black Friday sales, increasing by 42%.1
- Australians spent approximately $8 billion across the Black Friday four-day weekend in 2021, which also includes the Cyber Monday sales.2
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- Generation X had the highest intended spending average in Australia in 2021 during the Black Friday weekend, with $457 per person.4
- Gen Y were close behind, with an average per-person intended spending of $421.4
- Behind Gen Y were Gen Z, at $339. This would likely be due to this generation having less disposable income than the other two mentioned.4
- Finally, Australian Baby Boomers intended to spend the least in the 2021 Black Friday sales, at $290 per person.4
- Cyber Monday is just as important to consumers, with US $9.4 billion in sales in 2019.5
What this means for your store
Is your multi-channel marketing strategy ready? Review your targeting and touchpoints.
Black Friday product and industry statistics
- Tech was the big winner in the 2021 Black Friday sales, with purchases increasing by a whopping 168% compared to 2019.2
- Shoe stores also did very well, with a sales increase of 92% from 2019.2
- As expected, clothes stores enjoyed a boost post-pandemic, up 54% in sales compared to 2019.2
- Jewellery was also popular, with sales up 49% from 2019.2
- For eCommerce brands, Black Friday sales mean more site traffic and potential revenue, plus fresh opportunities to convert first-time visitors into loyal lifetime customers. According to Contentsquare’s 2022 Retail Digital Experience Benchmark Report, 51% of all retail traffic came from new users in 2021.10
What this means for your store
Black Friday and Cyber Monday may be short, but the impact may be long-lasting. New customers will increase your brand awareness and could become repeat business, provided their expectations around quality, shipping and customer service are met.
Black Friday statistics by country
- In the United States (US), 108 million people reported that they planned to take part in the Black Friday sales. That’s more than four times the entire Australian population!9
Source: https://www.statista.com/statistics/1276241/black-friday-online-searches-country/
- 21.1% of global Black Friday searches come from the US, making up the lion’s share of searches.8
- Germany comes in at second, with 12.9% of the global share.8
- Brazil is third at 11%.8
- Following closely is the United Kingdom (UK), with 10.3%.8
- Rounding out the top 5 is Spain, at 6.3%.8
- Australia can be found down in 10th place, with 2.5% of the global share of Black Friday searches.8
What this means for your store
It pays to consider a global sales strategy and expand into overseas markets.
Black Friday 2022 predictions
- According to Anthony from CROSSMARK, the eight weeks leading up to Christmas alone can generate 60-70% of revenue for a brand, so it is critical that they invest in buying events such as Black Friday.11
- Tech is likely to see the greatest discounts, with laptops expected to be up to 40% off.6
- Headphones and speakers are also expected to receive discounts of up to 27%.6
- Some sports watches were sold for less than half-price during Black Friday 2021.6
What this means for your store
Even if your products don’t fit into the categories most often associated with Black Friday and Cyber Monday (think tech and fashion), online stores will benefit from the hype and marketing that happens globally around these big sales events. Make sure you’re not caught out.
References:
[1] Retail Trade, Australia, Preliminary, ABS 2020
[2] Black Friday and Cyber Monday hit an all-time high, NAB 2021
[3] Black Friday 2022 in Australia: When is it and what deals to expect, TechRadar 2022
[4] Intended Black Friday/Cyber Monday sales spend Australia 2021, by generation, Statista 2022
[5] Black Friday Australia 2022: When is it? What are the best deals?, news.com.au 2022
[6] Black Friday 2022 in Australia: When and where to find the best deals, T3 2022
[7] Uncovering Black Friday Shoppers in Australia and Singapore, YouGov 2022
[8] Leading countries searching for Black Friday in 2021, Statista 2021
[9] 2022 Digital Experience Benchmark Report, Contentsqaure 2022
[11] The Keys to planning a successful Black Friday Sales Campaign, CROSSMARK 2021
[12] Renovation Kingdom, 2022
Disclaimer: These comments are the views and opinions of the author and should not be construed as advice. You should act using your own information and judgement. Whilst information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Please consider FX derivatives are high risk, provide volatile returns and do not guarantee profits.
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