Major shopping days “Black Friday” and “Cyber Monday” are here to stay, with previous Australian sales records smashed over the “Black Friday” long weekend, which ended yesterday. Any doubt that the US-originated “shopping events” would fail to find popularity on our shores are now well and truly put to bed.
According to Andrew Clarke, founder and CEO of Cashrewards, Australia’s largest online shopping community, the weekend’s sales figures also indicate that Australians will have a healthy appetite for what’s on offer from US giant online retailer Amazon. However, the advent of the US behemoth needn’t spell bad news for smarter retailers.
“In our view, Amazon’s arrival will significantly increase the growth of online spend to 15% of total retail spend within 5 years, more than doubling its current 7%,” said Mr Clarke.
“We also believe Amazon will motivate traditional retailers to improve their online experience and, most importantly, spur Australian retailers to take an omni-channel approach. In today’s world, retailers need to be in the same place as their customers, driving value for shoppers on both price and convenience.”
Cashrewards already supports an omni-channel approach, enabling an online-to-in-store experience, and intends to expand it over time with exclusive in-store cashback offers as well. Mr Clarke cited Dan Murphy’s as an example. Cashrewards members can shop there online, earn money back on their purchase and immediately pick up their liquor in a store located near them.
“The arrival of Amazon will set the new standard for online shopping and shipping. The acceleration of online shopping will boost our business model as well,” said Mr Clarke. “Retailers who are ready, creative and understand what their customers really want from their shopping experience have genuine potential to benefit.”
Cashrewards is the only loyalty site in Australia with Amazon.com, the US Amazon site, in its portfolio. Over the big sales long weekend, when Amazon Australia did not launch as many had anticipated, Cashrewards members were still able to access to Amazon bargains and earn dollars back in in their bank accounts for every purchase made.
Here to stay – a record retail long weekend
Cashrewards accounts for some 2%, or $600 million, of Australians’ online spend. Black Friday was the highest ever shopper traffic day for Cashrewards, whose
Black Friday / Cyber Monday weekend sales figures indicate that:
- Australians forked out $4 million on Black Friday through Cashrewards alone, up 106% on 2016, translating to a $200 million online spend nationally
- The most popular Black Friday bargains were in fashion, with David Jones, Cotton On, Farfetch and The Iconic the favoured brands
- The most popular tech retailers were The Good Guys, Lenovo, Apple and Dell, with laptops the top sellers
- Spending on travel increased from 10% of Black Friday revenue last year to 15% this year, with Wotif, Booking.com, Expedia and Virgin Airlines the most popular outlets
- The spend through Cashrewards on Cyber Monday was $1 million, translating to $50 million nationally, similar to 2016 as predicted by Cashrewards
- The big winners on Cyber Monday were shoppers who scored discounted alcohol from Dan Murphys.
Currently, 325,000 Australians choose to shop directly at more than 1200 major local and international retailers after first clicking through the Cashrewards site. In so doing, they receive a percentage in cash in their bank accounts for every purchase made, PLUS whatever discount or deal is on offer on the retailer’s site. Given back $28 million to Australians.