With Black Friday upon us and Christmas quickly approaching, the industry is in full swing but the 2022 shopping period is not without its challenges, according to eBay spokesperson, Sophie Onikul.
“Ongoing cost of living pressures means household budgets are tighter than ever. As a result, consumers are looking for ways to make their Christmas budgets stretch further. eBay’s research indicates 60% of Australians are looking to purchase half or more than half of their Christmas gifts during Black Friday and Cyber Monday sales,” she told Retailbiz.
To take advantage of this peak time, retailers must ensure they have enough inventory in stock to service consumer demand.
“Black Friday and Cyber Monday are expected to be dominated by online shopping again this year which means having a presence digitally is essential. As Australia’s most-visited online marketplace, selling your items on eBay is easy and can help generate sales and exposure to the widest audience in Australia,” Onikul said.
eBay research shows Australians are looking to purchase clothing, shoes and accessories, toys and electronics during Black Friday and Cyber Monday sales.
“With almost 75% of us buying gifts for children under 12 and toys high on many lists, we’re seeing three key trends including classic, sustainable and affordable toys popular on eBay. Classic toys with a modern twist, including board games like Monopoly Stranger Things, are up over 280% on eBay following the popular Netflix show. LEGO sets remain a classic favourite, with one LEGO set sold every two minutes on eBay,” Onikul said.
Sustainable toys including wooden sandpits made from recycled timber and toys made out of recycled household plastic, like Recyclies dolls, are also rising in popularity with Millennial parents being more eco-conscious than previous generations.
“Equally, a pre-loved toy is sold every minute on eBay indicating consumers are looking for toys that are both good for the planet and their pockets,” Onikul said.
As the cost of living continues to bite, eBay research shows affordability is top of mind. Toys priced under $50 are popular with parents looking to buy toys that don’t break the bank. These include bubble guns (up over 1,450% on eBay) made popular by TikTok and interactive pets like FurFluffs.
“While Christmas shopping was previously condensed into the first two weeks of December, Black Friday and Cyber Monday mean people now spend earlier. As consumers increasingly look for value to make their money go further, retailers will need to meet the demands of changing budgets and social drivers to navigate an extended retail period,” Onikul concluded.