An estimated 1.4 million say they’ve previously been scammed during the event.
New research commissioned by ING reveals 92% of Black Friday shoppers* are taking steps to protect themselves from scams during this year’s shopping event, as 1.4 million Aussies admit they’ve previously been scammed over the sales period.
The news comes as more Aussies than ever are set to hit the sales[1] and are willing to spend a collective $10.8bn[2], with those set to shop the sales this year planning their purchases for an average of three and a half months.
Despite general scam awareness and good intentions, many are at risk of falling into common pitfalls as just 12% of Black Friday shoppers say they are researching common scams to ensure they aren’t caught out.
Just under half (46%) admit they check company reviews for advertised deals, and a further 52% don’t check the company’s official website to make sure deals are legitimate. 52% say they would click a deal link sent to their email address or phone without verifying it first.
With shoppers being particularly susceptible to scams during sales seasons, this year ING is encouraging Australians to ensure scam avoidance tactics are a key component of their Black Friday preparations.
Matt Bowen, Head of Daily Banking at ING Australia said “As we head into the giving season, Aussies are looking for the best deal they can in the Black Friday and Cyber Monday sales, and it’s great to see so many planning in advance and doing their research.
“But it’s also important to stay vigilant to common scams that could turn savings into nightmares. Especially as many scammers look to capitalise on Aussies hunting for a good deal.”
Matt Bowen’s top 5 tips for Black Friday scam avoidance
- Be wary of clicking links shared on social media, emails or via text, even if they look legitimate. Instead, verify that a deal is real via the company’s official website or a trusted number.
- When you get an email, check the email address is legitimate. More sophisticated scammers may create fake company email addresses that appear genuine, so always check the domain name matches previous correspondence. If in doubt, contact the business via trusted sources.
- Be on alert for fake websites that pose as “discount” website for reputable retailers.
- Read up on common scams and tactics. We have resources to help customers avoid scams at ing.com.au/security and on the ING mobile app. The Australian Signals Directorate’s Australian Cyber Security Centre (ASD’s ACSC) is also encouraging Australians to shop securely this festive season, with more information to be found at www.cyber.gov.au.
- Remember, if a deal seems too good to be true, it probably is!
How are Aussies shopping this Black Friday.
- Making it count: 63% of Black Friday shoppers will consider ‘cost per wear/use’ before making a purchase – more likely amongst millennials (72%) than the older generations.
- Must haves: top items Black Friday shoppers are planning to purchase this Black Friday are clothes (51%), Christmas pressies (46%) and tech (41%).
- Practical purchases: 51% of Black Friday shoppers are conscious of buying things they actually need, with almost a quarter (23%) planning to buy essential household items and 16% on the hunt to replace broken items.
All figures, unless otherwise stated, are from YouGov Plc. This study was conducted online between 23 –25 October 2023 with a nationally representative sample of 1,016 Australians aged 18 years and older. Following the completion of interviewing, the data was weighted by age, gender and region to reflect the latest ABS population estimates.
Definition of terms:
“Black Friday Shoppers” refers to Aussies who say they are planning to shop in the Black Friday/Cyber Monday sales in 2023
About ING
ING changed the way Australians bank more than 24 years ago by launching the country’s first branchless bank. ING now offers Australians home loans, transactional banking, superannuation, credit cards, personal lending, insurance and wholesale banking services. ING is Australia’s most recommended bank according to RFI Global’s XPRT Survey, April 2023 – September 2023 (n = 31,961) 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 Global’s XPRT Survey, April 2023 – September 2023 (n = 31,796). MFI is defined as the bank that the consumer says is their main financial institution.
[1] 53% of Aussies plan to shop the 2023 Black Friday/Cyber Monday sales, up from 48% in 2022 and 43% in 2021 according to research commissioned by ING and conducted by YouGov.
[2] Sum of the average spend per item multiplied by the equivalent Australian population that plan on purchasing each item category during the Black Friday/Cyber Monday sales