Sumary of $1 million a minute: the Black Friday prediction that has retailers drooling:
- LoadingAirfares, holidays, investment advice, low calorie meal kits as well as the more conventional products such as apparel and furniture – all have jumped on the promotional sales train.
- Last year Black Friday overtook Boxing Day in sales – the traditional discounted shopping day on the retail calendar.
- Armed with its own merchant data the Commonwealth Bank said that sales in 2020 were up 10 per cent on 2019.“The increase in sales in 2020 in comparison to 2019 bodes well for the Black Friday sales this coming weekend,” according to head of consumer and diversified industries in CBA’s business banking division, Jerry Macey.
- According to CBA’s analysis: “Last year, clothing retailers recorded a 34 per cent spike in spending over the Black Friday period when compared to the same days of the week prior, while cosmetic merchants enjoyed a 46 per cent jump in spending over the same period.