How you could stack your savings this Black Friday & Cyber Monday

You know the scenario all too well – you open your browser, find the page you bookmarked a week earlier and head to it. The item you'd earmarked is available for purchase… and at a handy discount too. Plus, there's time left on the sale, so you add it to your cart and purchase the deal.

Yes!

You're now feeling the satisfaction of completing a purchase on a much-needed item at a great price.

So it goes for many of us when the annual tradition rolls around once again: Black Friday and Cyber Monday. It’s one of the biggest Aussie sales, along with Boxing Day and EOFY (End of Financial Year). And with more retailers than ever offering a range of great deals, it's shaping up for another huge year.

Here's how to best prepare yourself so you can stack your savings with us this Black Friday and Cyber Monday.

Black Friday and Cyber Monday

Like a bunch of modern traditions, Black Friday originated in the United States. Always the first Friday after Thanksgiving (the fourth Thursday each November), it’s been a major shopping event for decades. Though in-person Black Friday sales are famous for sometimes getting out of hand, the custom has still managed to spread right around the globe.

And that’s no different for us in Australia – last year, Black Friday and Cyber Monday did a mammoth $8.7 billion in sales, up 22% from 2022. It was also well above the $6.3 billion in sales the Australian Retailers Association (ARA) projected beforehand.

Now, if previous years are any guide, we could see discounts from most popular brands, usually ranging from 20% to 50% off. Plus, big players like JB Hi-Fi, Amazon, Ikea, Myer and David Jones have all confirmed they’re running Black Friday events for 2024. Some brands might even offer up to 80% off selected items, across fashion brands, accessories and shoes, swimwear and activewear, and beauty.

Get ready for this year’s edition

With the big shopping days fast approaching, being prepared is the name of the game. Key dates to remember are 29 November (Black Friday) and 2 December (Cyber Monday), with most retailers running their sales events over that four-day window. Still, keep an eye out in the lead-up, as some stores like to run deals at various stages in the weeks beforehand too.

If you're taking more than just a quick glance at what's on offer this year, it’s a good idea to note down a budget… and try to stick to it. Though it can be tempting to get taken away by a ripper of a deal, a budget can help keep you from going off the deep end.

Combine that with a proper shopping list and you’ll be in business. Only write down the things you're keenest on, or the things you really need. And it always pays to remember that a deal is only good if it's useful to you.

We’ve probably all fallen victim to it: we see something that’s heavily discounted and swept up in the moment, we purchase it. But it wasn’t something we actually wanted (or needed). And suddenly we have a magazine subscription we never use, a book we’ll never read or a jumper we never wear. Having a list will help keep you on track and on budget, and focused on the items most important to you.

Don’t forget other upcoming shopping events like Christmas, either. More and more these days, people are taking care of their Christmas shopping during the Black Friday and Cyber Monday sales, using the heavy discounts to save where they can. You could do the same – buy your gifts early, get ahead of the curve and you could save a pretty penny in the meantime.

Last step is to get your research in, bookmark some websites and set yourself reminders for the big days so you don’t forget.

Stacking your benefits could help you save even more

Even better than just saving on your favourite items during Black Friday and Cyber Monday, you may also be able to stack your benefits through your salary packaging account. If you are eligible, you could take advantage of additional savings helping you to hold onto more of your hard-earned money.        

For example:

Depending on your employer, you may be eligible to purchase a discounted eGift card through Smartrewards* for an electronics retailer.  You could use the gift card to buy a new laptop from an electronics retailer in the Black Friday sales.^# And where eligible, you may be able to salary package the laptop which could help save you up to 45% through income tax savings.^{^}

Smartrewards*

First is our Smartrewards program, which offers discounts at more than a hundred different retailers.*

f you're eligible, you may be able to take advantage by purchasing discounted eGift cards from a variety of stores (including JB Hi-Fi, Myer and Amazon). You could then use those gift cards to pay for items during Black Friday and Cyber Monday sales.*

If Smartrewards is available to you, you'll be able to see it when you’re logged into your online account on our website.

Salary packaging benefits*

You could also potentially stack your savings further by salary packaging items you purchase during Black Friday. In particular, you might find heavily discounted work-related products, like a laptop, tablet or mobile phone.^#
If your employer allows you to salary package any of these, and you’re eligible to purchase them to use primarily for work, you could potentially enjoy income tax savings.

And there you have it. You could potentially grab some discounted Smartrewards eGift cards, make a few savvy Black Friday purchases, and then, where possible, salary package those items to maximise your savings.*

Discover the benefits available to you – log into your online salary packaging account here.