Black Friday sales a ‘relatively new phenomena’ for economists

Retail sales rebounded sharply in November, spurred by a burst of spending around Black Friday sales. Shoppers are believed to be seeking discounts in response to cost-of-living pressures. Judo Bank Economic Advisor Warren Hogan said Black Friday sales are a “relatively new phenomena”. Mr Hogan told Sky News Australia that most economists want to see the December retail figures to understand spending trends. “As we’ve seen in recent years, a strong November is often followed by a very weak December.”