Research reveals savvy shoppers are expecting bigger discounts than previous years
Ahead of the Black Friday and Cyber Monday sales, new research from ING reveals more than half of all Aussie adults surveyed (64%) are more likely to take advantage of the sales this year, compared to previous years.
Research suggests that the financial impact of the pandemic has led Aussie adults to expect a bigger bargain from retailers, with more than two in three (69%) expecting a larger discount, and one in five (21%) admitting they have grown to expect more for less in the past year.
As Aussies plan to replenish wardrobes (49%), shop for Christmas gifts (46%) and bag a tech bargain (40%), the research shows they are expecting an average discount of 37%, with one in five (21%) even anticipating discounts of more than 50%.
Savvy shoppers are preparing for the sales by comparing websites for the cheapest deals (51%), looking for retailers who have free delivery and no hidden costs (47%), and even partnering with a friend to buy in bulk (15%).
“It’s a telling sign of the times that Aussies are looking to Black Friday and Cyber Monday as a way to make big savings. As the sales get bigger every year, it’s great to see so many are striving high when it comes to discounts and getting smart with navigating the best deals”, says George Thompson, Head of Daily Banking at ING Australia.
“The research also shows there’s been a significant shift from in-store Black Friday shopping to online, and it’s great to know shoppers are employing savvy tactics like comparing websites to bag a bargain for Christmas and set themselves up for the year ahead.”
George Thompson’s tips for Black Friday & Cyber Monday shopping
- Stick to a budget – Setting a price point of what you are able to spend based on your personal budget is key to avoid overspending and impulse purchases.
- Shop safely and watch out for scams – If shopping online, shop on a genuine and reputable website. Verify any trust seals on the site, check for contact details, review privacy and security policies and save all transaction details including receipts.
- Plan for 2022 – Shopping the sales sensibly can actually help you get ahead of 2022 events and calendar moments that are traditionally heavy on the wallet, such as holiday periods, birthdays and back to school costs.
- Avoid Christmas postage delays – With deliveries setting records this year, Australia Post has brought forward their Christmas deadlines, so utilising Black Friday sales is a great way to get in early and beat the festive rush.
- Watch out for international transaction fees – if you’re planning on shopping through an international site during the sales, make sure your aware of the fees and charges your bank might apply. Where possible, use a payment method that will allow you to avoid some of those international transaction fees and charges, like the ING Orange Everyday card for eligible customers*.
Additional key research findings:
- Black Friday shoppers planning ahead: Forward thinking Aussies are using the sales to save on future purchases like Christmas presents (45%), birthday gifts (19%), back to school items (11%) and work gear for the New Year (9%).
- Beating the Christmas rush: For Aussies shopping the sales for festive gifts, many (39%) are utilising the sales to avoid busy shops and a third (34%) are concerned about postage delays if they leave it any later.
- Christmas shoppers hitting international sites: For Aussies or expats unable to get home for Christmas, 46% say they will buy gifts for friends and family through international sites this Black Friday.
- Digi sales over bricks & mortar: With the pandemic impacting the way we shop, 68% of Aussies will be shopping solely online for the sales, compared to 48% who will be heading in store.
- Travel purchases on the rise: As restrictions ease, Aussies are looking to the sales to plan out their social calendar, with travel and accommodation (17%) and experience purchases (12%) high on the list.
- Shopping Down Under: The majority of Aussies (61%) will opt to shop with Australian retailers or small, local businesses this Black Friday and Cyber Monday.
Notes to editors
This research survey was commissioned by ING and conducted by YouGov between 28 October – 1 November 2021. The nationally representative sample comprises 1,053 Australians in total aged 18+ years distributed throughout Australia and weighted by age, gender and location to reflect the latest ABS population estimates.
For more information contact Megan Landauro on 0413 317 225 or firstname.lastname@example.org
ING changed the way Australians bank 21 years ago by launching the country’s first branchless bank. ING now offers Australians award winning home loans, transactional banking, superannuation, credit cards, personal lending, insurance and wholesale banking services.
ING is Australia’s most recommended bank according to RFi XPRT Survey, April 2021 – September 2021 (n = 32,103) when compared to customers of 20 other banks operating in Australia. It is also Australia’s fifth largest main financial institution (MFI) with 6% of market share according to RFi XPRT Survey, April 2021 – September 2021 (n= 32,103). MFI is defined as the bank the consumer says is their main financial institution.
ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292 AFSL and Australian credit licence 229823.
Rebate offers for Orange Everyday customers
|Between now and 1 December 2021, the following benefits still apply:|
Where you satisfy the eligibility requirements* in a calendar month, ING will rebate the following under the Global ATM Rebate and the ING International Transaction Fee Rebate Offers in the next calendar month:
|· For ATMs in Australia – any ATM fee charged by the ATM operator is rebated immediately following the transaction.|
|· For ATMs outside Australia – ING will rebate the International ATM withdrawal fee of $2.50 immediately after it is charged and rebate any ATM fee charged by the ATM operator at settlement of the transaction. While the transaction is pending the amount of the acquirer fee will be deducted from your available balance and will be reinstated after the transaction is finalised. ATM transactions outside Australia can take up to 5 business days to finalise.|
|· For ING International Transaction Fees – ING will rebate the ING International Transaction Fee of 2.5% of the amount of the international transaction immediately after it is charged. Merchants may charge you a separate fee for their services (which is not rebated under this offer).|
|When determining if you are eligible under the offer, we also take into account the behaviour of any of your joint account holders or additional cardholders.|
|Where eligibility is satisfied, the offer will apply to all Orange Everyday accounts held in your name (either single or joint account).|
|Eligibility requirements to receive the Global ATM Rebate and ING International Transaction Fee Rebate Offers – you must perform the following during the current calendar month to receive benefit of the above rebates next calendar month:|
|Card purchases and settled card purchases|
|^Card purchases includes in store credit or EFTPOS purchases, online purchases, regular card payments, payWave, Apple Pay, and Google Pay transactions made with an Orange Everyday Visa card, Orange One Low Rate or Orange One Rewards Platinum Visa card or Nil Interest Visa card provided with an eligible ING home loan.|
|+When using the phrase ‘settled’ card purchases in a calendar month, we mean that the purchases made on your card must be fully processed by the end of the last day of that month. Card purchases made in store or online this current calendar month which are at a ‘pending status’ and do not settle until the next calendar month do not count towards the 5 card purchases needed this current calendar month.|