Black Friday kills Christmas retail sales

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I reluctantly ducked into Chadstone Shopping Centre earlier this week to buy Christmas gifts and was pleasantly surprised by how quiet the centre was. I hate shopping – even more so during Christmas, where the crowds are infuriating.

I live reasonably close to Chadstone, therefore, rode my bike to avoid car parking. However, to my great surprise, the shopping centre was fairly quiet and there were car parks aplenty.

My immediate thought was that many shoppers must have completed their Christmas shopping during the Black Friday sales, thus bringing forward demand and leaving shops rather empty during the traditional Christmas crush.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.