Business NSW has urged shoppers to support local retailers and small businesses this Black Friday and beyond, emphasising the critical role these enterprises play in the state’s economy.
“The week leading up to Black Friday last year saw transactions soar 49 per cent above average – making it the busiest shopping period of the year, surpassing even pre-Christmas trade,” Business NSW CEO Daniel Hunter said. “This year presents a crucial opportunity for local retailers – especially in NSW’s regions – to thrive, if shoppers choose to buy local.”
Recent data has affirmed that Black Friday is the biggest shopping week of the year, eclipsing the seven days before Christmas. The latest from Business NSW and DataCo Labs found that in NSW alone, retail trade was valued at $4.9 billion in November 2023 (12.7 per cent of total retail trade that month) and $4.7 billion in December 2023 (10.6 per cent of total retail trade that month).
BusinessNSW also noted that Black Friday serves as an opportunity for small and medium businesses to harness both in-store and online sales growth.
“Supporting small businesses benefits communities across NSW. Money spent locally stays in the region, funding local jobs, infrastructure, and community programs,” Hunter said. “Local businesses support local soccer teams, volunteer at schools, and keep main streets vibrant. Every dollar spent locally creates a ripple effect that benefits the entire community.”
Hunter also pointed out that while Black Friday has provided immense opportunities, the shift to digital platforms has transformed the retail landscape. Thus, he has called on small businesses to invest in their digital capabilities to capitalise on the growing trend of online shopping.
“Consumers are spending now, with a focus on online deals during Black Friday. We need our local businesses to meet them where they are—online and in-store,” he explained. “Businesses investing in digital platforms not only stay competitive but also expand their reach beyond NSW.”
It has also been pointed out that international online retailers, including Amazon, eBay, Kogan, Shein and Temu, made up 4.1 per cent of retail trade in NSW during Black Friday week last year. However, they are facing post-Christmas slowdowns, unlike local retailers who continue to thrive in-store.
“This highlights the importance of supporting local businesses that maintain steady contributions to the community year-round,” Hunter said. “Small businesses are innovation hubs. They need our support to flourish. This Black Friday, let’s prioritise local retailers.”
“Whether you’re buying gifts or everyday essentials, shopping locally ensures NSW’s communities continue to grow and prosper,” he concluded.
