How Australian spending patterns are changing

October was the month for going out and partying, November saw spending on fashion spike while December shoppers will be turning to credit to have a happy Christmas.

That’s the pattern of spending by Australian consumers for the past three months according to recently released data.

Research from the Commonwealth Bank showed spending on ticketing services rose by 27 percent over October, with tickets to concerts by Oasis, Luke Combs, Metallica and even the F1 in Melbourne proving irresistible for many Australians looking to enjoy themselves.

In November, Black Friday sales — a retail event borrowed from the United States to bridge the day between Thanksgiving and the following Monday — have become a strong feature in Australia in recent years. While the sales events can begin at the start of the month and last for weeks rather than days, the Commonwealth Bank noted 8 of the 12 Household Spending Insights experienced an uptick over the month. This was led by women’s and men’s fashion, with shoppers hoping to take advantage of sales ahead of Christmas.

CBA Chief Economist Stephen Halmarick said in a year where cost of living pressures have been felt across Australian households, the possibility of securing a bargain moved Christmas spending forward.

“We’re seeing Black Friday and holiday spending shift earlier as retailers entice shoppers with early discounts on discretionary items,” Mr Halmarick said. “Collectively, sales for October and November 2024 were up 2 per cent compared to the same period last year.”

With Christmas Day a little over a week away, research by Roy Morgan, commissioned by the Australian Retailers Association showed more than half of Australian shoppers had begun their Christmas spend as early as October. The research also found that Australians are expected to spend $11.8 billion on presents this year, an increase of $1.6 billion on 2023.

Financial comparison service Finder research indicated more Australians will be leaning on credit to cover the shortfall in their budgets this year. The survey of 1009 respondents showed 26 percent regretted not saving more for Christmas, while a further 14 percent felt they had not saved enough.

In contrast, 34 percent revealed they had no need to set aside money for the holidays while another 26 percent had implemented a savings plan over the year to cover costs.

Sarah Megginson, personal finance expert Finder, said Australians struggling with Christmas expenses should avoid racking up debt on credit and instead focus on ways of trimming down costs.

“Many families have very little wiggle room in their budgets this festive season after a surge in living costs,” she said. “When you’re in this situation, planning and comparing to get the best deals and discounts is crucial.

“Avoid extending yourself and ending up with a credit card balance you’re struggling to pay off once the tree has been packed away.”

A new investment fund targeting celebrity-founded consumer brands has secured US$40 million in commitments and is rapidly approaching its US$50 million fundraising target, signalling growing investor appetite for alternative opportunities beyond traditional asset classes.

The Global Talent Fund, which has a maximum raise of US$100 million, focuses on building and investing in consumer businesses alongside celebrities, athletes, and influential personalities who play an active role as co-founders rather than simply endorsing products.

The strategy is based on the belief that changes in consumer behaviour, particularly the rise of social media and digital engagement, have fundamentally altered how brands are built and scaled.

GTF founding partner Jeremy Hunt, who is helping lead the fund’s strategy, said consumers increasingly feel connected to personalities they follow online and are more willing to support products developed by those individuals.

“Consumers are searching for content to engage with, and when a celebrity they like or follow takes them on the journey of creating a product or brand, they genuinely feel part of that process,” he said.

The fund is targeting high-growth consumer sectors including wellness, hydration, beauty and recovery, areas Hunt believes continue to benefit from strong global demand and ongoing innovation.

Rather than backing celebrity endorsement deals, the fund is seeking businesses where talent is deeply involved in product development, brand creation and long-term growth.

According to Hunt, authenticity remains one of the biggest differentiators between successful celebrity-backed brands and those that fail.

“The consumer can see clearly if someone is simply being paid to promote a product,” he said. “The winners are typically the brands where the celebrity has genuinely helped build the business from the ground up.”

The model has attracted support from several prominent Australian investors and business families, reflecting broader interest in alternative investments with global growth potential.

Hunt said consumer brands offered a level of tangibility that many investors found appealing.

“Consumer brands are what we touch, feel, smell and taste every day,” he said. “Our investors understand the growth potential in the model, but they also want to be part of the journey.”

The fund’s rapid progress towards its fundraising target comes amid growing recognition that celebrity influence, when combined with strong commercial execution and scalable business models, can create significant enterprise value.

With several high-profile celebrity-founded businesses generating billion-dollar exits in recent years, supporters of the strategy believe the opportunity remains in its early stages.

For more information, contact marc@kanerbridge.com.au

How Australian spending patterns are changing

There’s a rhythm to the way we choose to spend our money — and businesses are taking notice

With US$40 million already committed, the Global Talent Fund is attracting investor attention with a strategy focused on building globally scalable consumer brands alongside high-profile talent.