Black Friday Lettering Sign And Logo. Black Friday Sale Banner.
Credit: Black Friday lettering sign and logo. Black friday sale banner. Black Friday background. Neon sign
Australian independent retailers are bracing for an increase in Black Friday sales in 2020 compared to previous years as data from Vend suggests such an increase based on its findings that revenues rose by 35.3 per cent during Black Friday 2019.
The research, which looked into a deep-dive analysis of more than 3000 Australian independent retailers using Vend, also revealed that these retailers have enjoyed a steady Black Friday sales growth over a period of three years, with an 85 per cent increase in revenue in 2019 compared to 2016, along with a greater willingness among consumers’ to transact at these stores, with the average transaction value up 11.9 per cent year-on-year.
While Black Friday has traditionally been associated with big-box retailers such as Amazon and JB Hi-Fi, it is becoming an increasingly important day on Australia’s independent retail calendar. Australian shoppers spent a total of $14,487,000 with independent retailers on Black Friday 2019, with spend at independent retailers an average of $3914, a 26.6 per cent increase compared to a 21 per cent increase the previous year.
“As we near the end of a year defined by challenges, closures and uncertainty, Australia’s resilient independent retailers are gearing up for what is expected to be a significant and busy Black Friday sales event,” Vaughan Fergusson, Vend’s founder, said.
“While Black Friday has traditionally been synonymous with large, US-based retailers there has been a growing cultural shift towards shopping independently,” Fergusson added. “Shoppers are placing a far greater emphasis on local high streets and retailers who offer bespoke products and unique in-store experiences, and we expect an independent shopping boom as a result of Black Friday sales.”
The research revealed that fashion and apparel, health and beauty, as well as home, lifestyle and gift categories receive the most significant uplift in sales on Black Friday.