New statistics from Australia Post show the biggest online shopping week is now in November as Black Friday and Cyber Monday sales become even more popular with consumers.
According to the Australia Post 2019 eCommerce industry report, Inside Australian Online Shopping, the two significant shopping events, Black Friday and Cyber Monday recorded growth of 28.7 per cent year-on-year.
The first week of December is usually the biggest week for online sales but in 2018 sales during the seven day period grew 17 per cent year-on-year.
The second week of December, the 9th to the 15th, recorded a 26.2 per cent year-on-year growth.
For Boxing Day, online sales grew 24 per cent while instore foot traffic declined 20 per cent.
While Black Friday and Cyber Monday sales had the biggest number of purchases, the end of financial year sales had the biggest online growth at 30 per cent year-on-year.
The research also showed that our love for online bargain hunting remains strong, with growth of around 24 per cent year-on-year across all major shopping events in Australia.
Ben Franzi, general manager parcel & express services at Australia Post said the research shows a continuing shift in the timing and channels shoppers use to make their key purchases.
“Traditionally, the first week of December was the peak for online sales. Now, it’s Black Friday and Cyber Monday – which strongly suggests that more Aussies are doing their Christmas shopping online and earlier than ever before.”
Franzi said these statistics signal to retailers they need to consider timing their sales earlier to grab a slice of the Black Friday and Cyber Monday pie.
“Australians are getting savvier with how they shop, and are starting to purchase seasonal items that they might usually buy instore. For example, in the second week of December we saw a marked increase in online purchasing of specialty food and liquor – resulting in a growth of 41 per cent year-on-year.
“We know that customers are increasingly drawn to the convenience and stress-free experience of online shopping – Paypal reports that 70 per cent of Australians find online shopping less stressful than going in-store.”
The full 2019 Inside Australian Online Shopping report will be released later this year.