Global payments and shopping service, Klarna has recorded 298% growth in Black Friday sale volumes compared to Black Friday in 2020, driven by clothing, shoes, jewellery, accessories, leisure, sports and hobbies purchases.
Australian shoppers started bargain hunting early with sale volumes in the first hour of Black Friday (midnight to 1am) up 399% compared to an average day, and 314% compared to the same time last year. Black Friday shopping peaked between 3pm and 4pm AEDT with sales volumes up 878% compared to the same hour on an average day.
Klarna research has shown that Australian consumers make most of their Black Friday purchases online with almost two-thirds (65%) knowing exactly what they want to buy and 66% working with a fixed budget.
Millennials (those aged between 25 and 40) were the age group that made the most of Black Friday sales with a 54% share of purchases, followed by Gen X (41- to 55-year-olds) with 22%. However, Baby Boomers (57%) were the age group with the highest increase in purchases compared to a regular day.
Klarna Australia and New Zealand marketing director, Katrina Ang said Australians are looking for ways to shop, pay and save smarter, which is reflected in the results on Black Friday and across Cyber Week.
“Heading into Black Friday, our research told us that Australian shoppers were planning to take advantage of upcoming sales to get started on their holiday shopping early, and to save while doing it,” she told Retailbiz.
“This, combined with Australians’ uptake of online shopping in the last year, and consumers’ appetite for flexible, interest-free payment options, meant it was no surprise to see exceptional sales growth during the period.”