Australians will spend billions of dollars in the next four days in the Black Friday to Cyber-Monday sales. But we are all being warned to live within our means and also to watch out for online scams.
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00:00The orders are coming thick and fast for this activewear company, which started its Black
00:07Friday sales a week ago.
00:09Night one is, in the first hour, is always quite crazy.
00:13There's a lot of community online and we did break our app.
00:17It couldn't handle the traffic, which was quite fun, and we let our community down a
00:20little bit in that way.
00:21Four in ten Australians are expected to do all their Christmas shopping in this event.
00:26It's good.
00:27I like it.
00:28I'll have a bargain.
00:29I'll have some money.
00:30Why not?
00:31And also, it helps to have your presents purchased earlier, not last minute shopping.
00:36Australians are forecast to spend $6.7 billion in the Black Friday Cyber Monday sales.
00:42That's the biggest on record, and a 5.5% increase compared to this time a year ago.
00:48All up, including this event, shoppers are expected to fork out nearly $12 billion on
00:54presents in the lead up to Christmas.
00:56Many of the discretionary retailers make about two thirds of their profits during the
01:00peak season trading period, so there's a lot riding on it.
01:03So live within your means.
01:04It's going to be a debt that you need to think about paying.
01:08There's also a warning about falling victim to online scams.
01:12If you see an offer that you think that offer is just too good to be true, it probably is.
01:18Black Friday to Cyber Monday is the first major sales period since the stage three tax
01:23cuts came into effect.
01:25So we'll be watching closely to see how that impacts inflation and the timing of interest
01:29rate cuts by the Reserve Bank.
01:31Black Friday sales have crept into more and more of the month.
01:35That's going to show that prices fell for a little longer.
01:38But just because prices fall for a one-off sales event doesn't mean that inflation is
01:43falling enough.
01:44Meaning the delivery of the first interest rate cut likely won't land until next year.