Beware Of Black Friday Deals: Study Finds 1.4M Aussies Scammed

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In a new study commissioned by ING, 92% of Black Friday shoppers say they will be vigilant not to fall prey to scams, as a projected 1.4 million have formerly been ripped off during the mega shopping period.

As for shopping trends, ING also uncovered Aussies will be purchasing primarily technology during the upcoming Black Friday sales and will have an average spend of $505 with online gaming and computer games are the most popular items for Gen Z (37%) in the upcoming sales, followed by Millennials (22%), Gen X (14%,) and Baby Boomers (6%).

This Black Friday sales period is set to see Australian consumers spend around $10.8 billion, and this time, shoppers are planning their buys for a median of three and a half months out.

Even with the best intentions, scams are becoming harder to detect, and consumers must stay alert.

Unfortunately, the research shows only 12% of Black Friday customers are researching scams.

Only 46% say they check reviews of companies for advertised deals, and 52% don’t check the company’s official website to ensure their sales are genuine.

AO Black Friday deals 500x208 Beware Of Black Friday Deals: Study Finds 1.4M Aussies Scammed

ING warns Australians to safeguard themselves to avoid scams, which should be a critical part of Black Friday planning.

Matt Bowen, Head of Daily Banking at ING Australia, said: “As we head into the giving season, Aussies are looking for the best deal they can in the Black Friday and Cyber Monday sales, and it’s great to see so many planning in advance and doing their research.”

“But it’s also important to stay vigilant to common scams that could turn savings into nightmares. Especially as many scammers look to capitalise on Aussies hunting for a good deal.”

To protect shoppers, below are Matt Bowen’s top 5 tips for scam avoidance:

1. “Be wary of clicking links shared on social media, emails or via text, even if they look legitimate. Instead, verify that a deal is real via the company’s official website or a trusted number.”

2. “When you get an email, check the email address is legitimate. More sophisticated scammers may create fake company email addresses that appear genuine, so always check the domain name matches previous correspondence. If in doubt, contact the business via trusted sources.”

3. “Be on alert for fake websites that pose as “discount” website for reputable retailers and 53% of Aussies plan to shop the 2023 Black Friday/Cyber Monday sales, up from 48% in 2022 and 43% in 2021 according to research commissioned by ING and conducted by YouGov.”

4. “Read up on common scams and tactics. We have resources to help customers avoid scams at www.ing.com.au/security and on the ING mobile app.”

5. “Remember, if a deal seems too good to be true, it probably is! How are Aussies shopping this Black Friday.”

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