Black Friday has outgrown the seven days before Christmas as the biggest shopping week of the year, giving small and medium businesses a unique opportunity to harness both instore and online sales growth.

Business NSW is urging loyal shoppers to support local retailers and small businesses this week and beyond, emphasising the critical role these enterprises play in the state’s economy.

“The week leading up to Black Friday last year saw transactions soar 49% above average -making it the busiest shopping period of the year, surpassing even pre-Christmas trade,” Business NSW CEO Daniel Hunter said of Black Friday, November 29.

“This year presents a crucial opportunity for local retailers – especially in NSW’s regions - to thrive if shoppers choose to buy local.”

Business NSW and DataCo Labs conducted a detailed analysis of the trends of retail trade in NSW, using Australian Bureau of Statistics and de-identified transaction data from ANZ.

NSW online retail trade was valued at $4.9 billion in November 2023 (12.7% of total retail trade that month) and $4.7 billion in December 2023 (10.6% of total retail trade that month).

“Supporting small businesses benefits communities across NSW. Money spent locally stays in the region, funding local jobs, infrastructure, and community programs,” Mr Hunter said.

“Local businesses support local soccer teams, volunteer at schools, and keep main streets vibrant. Every dollar spent locally creates a ripple effect that benefits the entire community.

“While Black Friday offers immense opportunities, the shift to digital platforms has transformed the retail landscape.

“Business NSW encourages small and medium businesses to invest in their digital capabilities to capitalise on the growing trend of online shopping.

“Consumers are spending now, with a focus on online deals during Black Friday. We need our local businesses to meet them where they are—online and in-store.

“Businesses investing in digital platforms not only stay competitive but also expand their reach beyond NSW.”

International online retailers, including Amazon, eBay, Kogan, Shein and Temu, made up 4.1% of retail trade in NSW during Black Friday week last year.

However, Mr Hunter points out that these international giants face post-Christmas slowdowns, unlike local retailers who continue to thrive in-store.

“This highlights the importance of supporting local businesses that maintain steady contributions to the community year-round,” Mr Hunter said.

“Small businesses are innovation hubs. They need our support to flourish. This Black Friday, let’s prioritise local retailers.

“Whether you’re buying gifts or everyday essentials, shopping locally ensures NSW’s communities continue to grow and prosper.”

Key findings: 

• The week in the lead-up to Black Friday last year was the busiest retail period of 2023, with transactions being 49% above average. Retail trade during that week has also surpassed the individual performance of the final two weeks of the year (18th to the 31st of December), as transactions in the week leading up to Christmas were 34% above average whilst the week post-Christmas had transactions 25% above average.
• The pattern of online retail trade shows that the peak period of the year was the week leading up to Black Friday, with transactions 37% above average. Whilst in-store transactions also recorded a similar boost of 37% during that period, the busiest week for in-store activity was the week prior to Christmas, with transactions 54% above average.
• In 2023, online retail trade was valued at $4.9 billion in November (12.7% of total retail trade that month) and $4.7 billion in December (10.6% of total retail trade that month).
• The month of December remains the busiest month of the year for retail trade (online and instore). In 2023, NSW retail trade totalled $12.2 billion in November and $13.8 billion in December.
• Five major international online retailers (Amazon, eBay, Kogan, Shein and Temu) made up 4.1% of total retail trade in NSW during the week leading up to Black Friday 2023. Their transactions in the week leading up to Black Friday 2023 were 58% above average. This boost was larger than the spike recorded by the group of ‘all other retailers’ (49% above average).
• However, transactions with these five major international online retailers slumped in the week after Christmas, with transactions 19% below average weekly spend. In contrast, the group of ‘all other retailers’ enjoyed another boost in the final fortnight of the year, with transactions in the week before Christmas 36% above average and the week after Christmas 27% above average.

About Business NSW

Formerly the NSW Business Chamber, Business NSW is the peak policy and advocacy body which has been representing businesses in NSW since 1826. We represent almost 50,000 businesses.

MEDIA CONTACT: BEN PIKE – 0429 993 822