Black Friday sales costing businesses $192m in productivity

Thousands of Aussies are gearing up for a big weekend of shopping, starting with Black Friday sales on November 25 followed by Cyber Monday the following week.

Despite the economic benefits on the retail industry this weekend will provide, there is one sector that is set to lose a whole lot more than it stands to gain as people rush out the doors to grab a bargain.

According to Finder, more than 544,000 Aussie workers have called in sick to go shopping this year already – a trend that could cost the business industry millions.

With so many people away from work, it’s costing businesses money in the form of productivity, with the average amount lost per person, per day equating to $354.

All up, with more than half a million people away from work, it amounts to a $192m loss in productivity.

Surprisingly, men are more likely to call in sick to shop than women, with four per cent of males looking for a bargain compared to three per cent of females.

In a national survey of more than 1000 people conducted by Finder, 69 per cent of Aussie shoppers will be purchasing clothing and shoes, 36 per cent will splurge on electronics and other gadgets, and 25 per cent will look to purchase food and alcohol.

About one-third of all Aussies will take advantage of the bargains on Friday.

Finder personal finance expert Taylor Blackburn said employees could face a spike in absences this Friday, with only four weeks left until Christmas.

“Aussies are embracing Black Friday as a way to make some savvy savings this side of Christmas,” they said.

“The holidays are a notoriously expensive time of year, compounded by the spiralling cost of living, so the bigger discounts on offer during Black Friday may well be to enticing to pass up.”

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *