Australians are expected to spend more than $3.1 billion on Boxing Day sales this year, with shoppers being urged to be on the lookout for genuine deals, and avoid scams.
Two in five Australians have made plans to shop during Friday's sales, including 48 per cent of gen Z and 46 per cent of millennials, according to data released by PayPal.
But people are turning away from impulse buying, with 31 per cent of Australians who were surveyed saying they are taking a "buy better, not more" approach this year, while 24 per cent say they are now more cautious with big sales events.
The research, conducted by YouGov, also suggested that around 30 per cent of Australians will use the annual sale event to stock up on everyday essentials and groceries with post-Christmas discount offers.
Danielle Grant, PayPal's consumer spokesperson, said: "Australians are becoming far more intentional about how and when they spend, particularly as cost-of-living pressures continue."
"Boxing Day is no longer just about impulse purchases for many households; it's a chance to plan ahead, prioritise essentials and make smarter decisions with their money as they close out the year," Grant said in a statement.
The majority of Australians (82 per cent) have also planned to do at least some of their discount shopping virtually, and 59 per cent say they'll do half or more of their Boxing Day shopping online — with most citing convenience as the reason.
How to get the most value for your money
Comparison site Finder's money expert Rebecca Pike said it's important to prepare before heading to the sales, such as tracking prices ahead of time to spot real discounts, and reading retailer policies to check whether tighter post-sale conditions apply during the festive season.
She said shoppers should also compare final prices across different stores before making the decision, and consider stacking discounts with cashback offers, loyalty points, coupons or other rewards to get the best deal.
While shopping, people need to avoid getting hooked on buying for eye-catching discounts, Pike warned.
"Stick to a list and have a strict budget in place," she said.
Watch out for the bad actors
Australian Banking Association CEO Simon Birmingham said Boxing Day sales are "prime time for shopping scams".
"Scammers are constantly evolving their tactics, and AI is making it easier for them to mirror legitimate businesses and create fake online stores or advertisements," he said.
"Australians need to be doubly careful on social media, where far too many scams emanate from."
Birmingham said banks have been investing in new safeguards to detect and stop dodgy payments, but taking a cautious moment to review purchases remains the "best form of defence" against being scammed.
"Double-check you're purchasing from a legitimate website and watch out for text messages about missed deliveries, as this is a common way for scammers to get you to hand over personal or financial details."
— With additional reporting by Australian Associated Press.
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