As Black Friday sales enter your feed and retailers prepare for a major boost in consumer spending, shoppers across Victoria are preparing to snap up some bargains.
The Retail Association of Australia is anticipating a $73.1 billion boost in retail sales during the lead-up to Christmas, with an estimated $6.8 billion during the four-day weekend of Black Friday and Cyber Monday alone-marking a 4% increase on last year's figures.
While the allure of sales is undeniable, it's worth considering the real cost of this consumption on both our wallets and the environment, especially when globally 30% of garments are sent to landfill within a year of purchase.
Australians, on average, buy 55 new pieces of clothing every year - that's an 3.8% increase on last year, despite 52% of Victorians saying it would be 'easy' to buy fewer than 20 new pieces of clothing per year in last year's State of Sustainability report.
In 2024, we asked Victorians to reconsider their buying habits, and if they thought they could limit themselves to no more than 20 new clothing items per year. And yes, before you ask, that includes undies.
In fact, 72% of people who buy second-hand clothing report they purchase fewer new items as a result, highlighting how sustainable shopping choices can influence overall consumption.
So, with all this momentum for a more circular fashion industry, why can't we resist a sale? Retail sales are more than just good deals-they tap into psychological triggers that compel us to buy.
What happens to our brains when we see a bargain
Instant Gratification: The dopamine hit
When we find a sale, our brains release dopamine, the 'feel-good' neurotransmitter. This rush reinforces impulsive buying behaviour, as the brain associates discounts with rewards, much like eating chocolate or winning money.
Scarcity effect
The fear of missing out (FOMO) on a limited-time offer can make us feel like we need an item, even if it wasn't on our radar. This plays into our evolutionary instincts to secure resources before they run out.
Social proof and status
Seeing others purchase or flaunt discounted items can trigger a desire to conform, driving us to buy in an attempt to gain social approval.
The power of comparison
Retailers use the strategy of 'anchoring', where the original price is shown next to the sale price. This creates a psychological reference point, making the discount feel more significant, even if the item's true value isn't much lower.
