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.

Camera IconBlack Friday sales are just around the corner. NCA NewsWire/David Swift Credit: News Corp Australia

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.

Black Friday
Camera IconAbout one-third of Aussies will take advantage of sales on Friday. Shae Beplate Credit: News Corp Australia

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.”

Read original article here

Denial of responsibility! Toys Matrix is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – admin@ toysmatrix.com . The content will be deleted within 24 hours.

Leave a comment
My title Page contents