At a glance
- Company
- Vicinity Centres
- Announcement
- Event
- Location
- Australia
Key figures
- Expected Black Friday shoppers
- around 1 million
- Expected spending increase versus Boxing Day
- about 16%
- Expected Black Friday spend per shopper
- $440
- Expected Boxing Day spend per shopper
- $380
- Expected share of purchases made in stores
- almost 60%
- FY23 leasing deals completed
- more than 1,600
People
- Kirrily LordGroup Director, Customer and Asset Management
More Australians expected to shop Black Friday than ever before Consumers expected to spend around 16% more(1) on Black Friday than Boxing Day 2023 Vicinity shopping centres boast new retailers and experiences across the country
November 20, 2023 -- More Australians than ever are planning to take advantage of Black Friday with around 1 million shoppers expected to search for a bargain ahead of Christmas, representing 14% growth on 20221.
Black Friday 2023 is also expected to generate more retail sales than what is traditionally the biggest shopping day of the year, Boxing Day, with consumers planning to spend about 16% more ($440 spend per shopper) on Black Friday than Boxing Day ($380 spend per shopper)1.
Vicinity’s Group Director, Customer and Asset Management, Kirrily Lord said that bargain hunting and an elevated customer experience are key drivers of consumer behaviours this Black Friday.
"Each of our 59 shopping centres across Australia are planning to welcome customers looking to take advantage of Black Friday sales."
Kirrily Lord
Vicinity Centres Group Director, Customer and Asset Management
“Over the past couple of years, we’ve seen customers value the experience of physical retail and that is set to continue this Black Friday, with almost 60% of purchases expected to be made in-stores.
“We are committed to delivering retail property excellence and whether it is a refreshed selection of retailers, centre ambience upgrades or larger development works, there is always something new and engaging for customers to experience.”
Stemming from more challenging economic conditions, consumers are planning to make savvy shopping choices with 56%1 of shoppers planning their Black Friday purchases ahead of time, making the most of the wide range of stand-out deals on offer from retailers across the country.
Vicinity’s shopping centres boast new-to-market retail concepts and on-trend brands, especially following a busy 12 months of leasing activity in FY23, where more than 1,6002 new leasing deals were completed. This highlights that retailers are confident in a resilience retail sector as well as Vicinity’s commitment to delivering retail property excellence.
- Nature: Black Friday 2023: Back with a Bang
- Vicinity Centres 2023 Annual Report - Comparable leasing deals, page 10.
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In brief
Vicinity Centres says more Australians are planning to shop on Black Friday in 2023, with about 1 million shoppers expected to look for deals before Christmas. The company says shoppers plan to spend around 16% more per person on Black Friday than on Boxing Day, with average spending estimates of $440 and $380, respectively. Nearly 60% of purchases are expected to take place in stores. Vicinity says its 59 Australian shopping centres are preparing for the event, with new retailers and customer experiences. It also reports that more than 1,600 leasing deals were completed in FY23. The release says 56% of shoppers intend to plan their Black Friday purchases in advance.
Key takeaways
- About 1 million Australians are expected to shop on Black Friday, according to the release.
- Expected spending per shopper is $440 on Black Friday versus $380 on Boxing Day.
- Almost 60% of purchases are expected to be made in stores.
- Vicinity says its centres have added retailers and experiences, following more than 1,600 FY23 leasing deals.
