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. 

1. Nature: Black Friday 2023: Back with a Bang
2. Vicinity Centres 2023 Annual Report - Comparable leasing deals, page 10.

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