Shopping around the Christmas tree: 14 million Aussies to splurge this Boxing Day
Millions of Australians will be looking to nab themselves a bargain during the post-Christmas sales, according to new research by Finder.
A new Finder survey of 1,004 respondents found that 74% of Australians – equivalent to 14 million people – will be shopping the Boxing Day sales this year.
Most Aussies will be splurging on food and alcohol, with almost two-thirds (61%) looking to capitalise on discounts post-Christmas.
More than one-third (37%) will be purchasing beauty and makeup products, while a similar number of Aussies (36%) will be looking for electronics.
Furniture tops the list as the category consumers will be shelling out the most for, averaging at $176. This is followed by food and alcohol, with an average spend of $166.
Kate Browne, personal finance expert at Finder, said that Aussies having a quiet COVID-19 Christmas should jump online early.
"The sales are starting earlier and earlier. While many brick-and-mortar stores start their sales when doors open on Boxing Day, we're seeing online retailers advertising deals well and truly before.
"If you want to make the most of the deals and ensure you don't miss out, start your shopping early.
"Make a list of all the things you need and do some research to find all the retailers stocking your item, that way you know where to head on the day."
The Finder survey shows that Australians will spend on average $79 on whitegoods.
This comes as the Finder Retail Awards reveal the best brands for whitegoods products like fridges, freezers, clothes dryers and washing machines.
"During the post-Christmas sales you tend to see large discounts on big-ticket items, as retailers look to clear shelves and make room for new stock for the year ahead," Browne said.
Whitegood brands LG, Westinghouse and Asko have all been crowned the best-rated in their categories by Australians, taking out a Finder Retail Award in the dishwasher, top-mounted fridge and front-load washing machine categories respectively.
The research found that men are more likely to shop big this Christmas, with a whopping average spend of $1,143 – that's nearly double the average of $594 for women.
Across the generations, gen Xers plans on spending the most at $1,130, followed by millennials at $1,097.
Baby boomers will be pinching their pennies this holiday season, with a much lower average spend of $343.
Browne said to check the fine print before you part with your money.
"Before you buy, take a look at the store's returns policy. Stores tend to have stricter rules around returning discounted items.
"Some retailers, such as JB Hi-Fi and Bunnings, offer a price match guarantee. Use this to your advantage to score an extra discount.
"Take advantage of sales to buy things you know you'll need, like birthday presents or workwear, but making frivolous purchases can impact your finances in the long run," Browne said.
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Finder December Survey 2020
How to shop the Boxing Day sales
- Jump online early. If your Christmas night looks quiet, carve out some time to shop the sales. The earlier you start, the less likely you'll miss out.
- Know the value of the items you want. It's easy to get swept up in the Boxing Day hype and overspend on a "deal". Do your research and set some limits beforehand for how much you're willing to spend on an item.
- Keep an eye on retailers. Sign up to your favourite retailer's newsletter to stay in the loop. Better yet, follow them on their social media accounts. Some retailers give their members exclusive deals and access to the sales before they've begun.
Want to find a Christmas bargain? Check out Finder's Boxing Deals Hub.