With Black Friday and Cyber Monday fast approaching, ING releases research today revealing that 64% of Aussies are more likely to take advantage of the sales this year compared to previous years.
The research has also revealed that Aussies are looking to see a bigger bargain from retailers, with 69% expecting a larger discount than ever before and one in five (21%) admitting they have grown to expect more for less in the past year. Shoppers are expecting an average discount of 37%, with one in five (21%) even anticipating discounts of more than 50%!
Alongside looking for bigger discounts, savvy shoppers are also planning ahead for 2022 and 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%).
The research has also revealed that with restrictions easing, forward thinking Aussie’s are increasingly looking to the sales to plan out their social calendar, with travel and accommodation (17%) and experience purchases (12%) high on the list.
To help Aussies navigate the sales safely but effectively, George Thompson, Head of Daily Banking, at ING offers his 5 top tips and tricks to bag a bargain:
- 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. Also check your bank’s treatment of online fraud so that in the event an unauthorised transaction takes place on your account you can understand whether you’ll be liable for any unauthorised transactions, providing you have compiled with the terms and conditions of your bank.
- 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.
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