New research from CommBank suggests that Black Friday and Cyber Monday sales are no longer just about splurging on luxuries, but have become a crucial strategy for Australians grappling with the cost of living. The study reveals that 44% of Australians are planning to shop the sales, a figure that rises to 60% for those under 40.

The survey, conducted by the House of Brand Group, polled over 1,000 Australians, including 494 who intend to shop the Black Friday/Cyber Monday sales this year. It found that of those planning to shop, 78% are hoping to secure essentials at a bargain price, while just over half are planning to buy gifts for others.

The research paints a picture of Australians increasingly relying on deals and discounts to stretch their budgets. Over 90% of respondents are turning to sales as a way to help with the cost of living, with more than three in five saying they are keeping an eye out for discounts more than they used to.

'Gone are the days where large sales events were used to only buy what we wanted rather than what we needed. Our research shows that essential everyday items are high on the priority list for those planning to shop the Black Friday or Cyber Monday sales,' said Jess Irvine, CommBank Personal Finance Expert.

Irvine also highlighted the ongoing cost of living pressures that Australians face as the year draws to a close. 'We found that 91 per cent of Australians are looking for new ways to save money and for ways to make their money go further,' she said.

To help Australians navigate the sales, Irvine shared her top five tips, which include pausing and reflecting, making a wishlist, doing research, creating a 'savings stack', and being safe.