Electronics and appliances were called out in the top three categories where Australian shoppers are expected to spend this Black Friday and Cyber Monday (BFCM) – only behind the apparel, footwear and accessories category.
In the lead up to the BFCM sales weekend, brand tracking platform, Tracksuit surveyed over 1,000 Australian consumers to uncover where they plan to spend their dollars and whether brands that get involved are seen as value for money, or just low quality.
When it comes to appliances, 24% of Australians aged 18 to 34 intend to make a purchase in the category, ahead of those aged 35 to 64 (14%) and 65+ (8%). It’s a similar trend for the electronics category, with 42% of those aged 18 to 34 expected to make a purchase, followed by 22% of those aged 35 to 64 and 7% of consumers agreed 65+.
The survey found that almost two-thirds (63%) of shoppers will purchase based on the best promotion or discount over their preferred brand, while almost all (93%) Australians aged 35 to 64 love a brand that regularly discounts. Just over three-quarters (76%) wait for a sale or discount before making a purchase.
Interestingly, 90% of consumers view a brand that discounts regularly as ‘value for money’ with only one in 10 regarding those as ‘low quality’.
Last year, 60% of Australians found their BFCM deals online, while 20% only shopped in-store and 20% did a mix of both.
Commenting on the data, Tracksuit co-founder and co-CEO, Matthew Herbert said, “When scrolling through social media or tuning into the radio, it’s likely a series of ads will be promoting BFCM. It feels as though every retailer is jumping on the hype, but this isn’t always the case.
“There are still a number of brands who consciously choose not to participate in the promotional weekend. Big retail events like BFCM can raise strategic questions about longer term brand impact like losing sight of brand objectives in pursuit of discounts? Is it worth a short term boost in transactions? Will it diminish brand perception? While these questions are worth asking, understanding consumers’ views is an equally important part of the equation.
“Tracksuit’s research shows nine out of ten consumers view brands who discount regularly as ‘value for money’ – a perception that is particularly important in today’s cost of living crisis. Aligning with significant shopping events like BFCM creates an opportunity for brands to provide value to consumers while also fostering longer term brand loyalty.
“It isn’t about having frequent promotional periods or straying from brand values. Rather, it’s about tapping into strategic consumer moments to resonate when it’s most effective.”