Thousands of Aussies are gearing up for a big weekend of shopping, starting with Black Friday sales on November 25, followed by Cyber Monday the following week.
Despite the economic benefits this weekend will bring to retailers, there is one sector that will lose a lot more than it can gain as people rush out the doors in search of a bargain.
According to Finder, more than 544,000 Australian workers have already called in sick to go shopping this year – a trend that could cost the business industry millions.
With so many people absent from work, it costs businesses money in terms of productivity, with the average loss per person per day equaling $354.
All told, with more than half a million people not working, that’s a $192 million lost in productivity.
Surprisingly, men call in sick to shop more often than women, with four percent of men looking for a bargain compared to three percent of women.
In a national survey of more than 1,000 people conducted by Finder, 69 percent of Australian shoppers will buy clothes and shoes, 36 percent will spend on electronics and other gadgets, and 25 percent will attempt to buy groceries and alcohol.
Around a third of all Aussies take advantage of Friday bargains.
Finder personal finance expert Taylor Blackburn said staff could face a spike in absenteeism this Friday with just four weeks left until Christmas.
“Aussies are embracing Black Friday as a way to make some smart savings this Christmas,” they said.
“The holidays are a notoriously expensive time of year compounded by the rising cost of living, so the bigger discounts on offer during Black Friday may be too tempting to pass up.”
Originally released as Black Friday sales costing businesses $192 million in productivity