In the lead up to Christmas, many Aussies fall into the trap of overspending a little as they hit the shops in search of the perfect gift, festive food and an outfit for a Christmas party.
The country’s spending isn’t expected to slow down once Christmas Day is over and done with though, as new research has revealed that roughly 9.7 million Aussies shoppers will splurge on Boxing Day deals.
Finder.com.au conducted the research which found that one in two (50 per cent) Aussie adults plan to shop the post-Christmas sales.
Over a third (38 per cent) of shoppers will splurge on new clothes and shoes, while 32 per cent will stock up on discounted food and alcohol. Electronics, cosmetics and manchester round out the top five purchases Aussies will cross off their shopping list this Boxing Day.
“Some retailers are kick-starting their sales online during Christmas Day,” Kate Browne, personal finance expert at Finder.com.au said. “This means eager shoppers can swoop in a day early and beat the crowds.
“Other stores will launch their Boxing Day sales from midnight onwards. But if you’re planning to shop in-store, you’ll need to wait until trading starts in the morning. This is a great opportunity to spend some Christmas cash or pick up last-minute gifts for friends and relatives you haven’t seen yet.”
Baby Boomers are the most likely to give the sales a miss this year, with less than a quarter (24 per cent) planning on participating. In comparison, 73 per cent of Gen Z and 68 per cent of Gen X plan to hit the shops.
Browne said shoppers should exercise a degree of caution at the checkout and be selective about where they purchase.
“Retailers may stock similar products, but they won’t necessarily mark them down by the same amount. Make sure you compare prices online and in-store before buying.
“Remember to use price match guarantees from stores like JB Hi-Fi, David Jones and Bunnings, and always double check the store’s returns policy.”
If you are shopping in the sales though, make sure you know your rights when it come to returning items so you aren’t left out of pocket with an item you don’t want or can’t use.
According to the Australian Competition & Consumer Commission (ACCC), misleading representations regarding online refunds and returns is one of the issues they receive the most complaints about.
“It is important for us warn the retail sector and educate consumers as we enter the busiest shopping period of the year,” the ACCC said in a statement.