Why have these US imports become so popular here in Australia? In a nutshell, it comes down to timing. While aligned with Thanksgiving in the US (a tradition we’re yet to adopt), Black Friday falls on the fourth Friday in November, with Cyber Monday bookending the weekend. Timing-wise, this provides retailers with a much-needed pre-Christmas boost, and us shoppers with the chance to score huge bargains on our Christmas shopping (if you’re organised enough!) Add a solid dose of FOMO (fear of missing out) on these time-limited and one-off discounts, and retailers have us captured with two irresistible shopping ingredients – urgency and exclusivity.
Black Friday and Cyber Monday – what’s the difference? While the two sales seem to have merged into one mega long-weekend shopping event, traditionally, they operate as two different sales:
Black Friday Solidified by retailers in the 1980s, Black Friday marks the unofficial start of the Christmas shopping season, and a point in the year where retailers shift from loss ("in the red") to profit ("in the black").
Cyber Monday A phrase first coined by the
National Retail Federation (NRF) in 2005, Cyber Monday came about as the NRF noticed a lift in online sales as people returned to work (and faster internet speeds) post-Thanksgiving. It marks our huge cultural shift away from brick-and-mortar stores to online shopping.
Why does Cybercrime peak over this big shopping weekend? With millions of Australians hunting for bargains online, and millions of dollars in transactions flowing over the web, this long week is the perfect hunting ground for cybercriminals. In fact, cyber threats have been reported to
increase by 275% during the period. They often exploit the feverish excitement that comes hand in hand with bargains and special deals to get unsuspecting shoppers to hand over their money, passwords, and credit card details without a second thought. Here are the 4 main tricks that come out to haunt vulnerable shoppers:
1. Phishing emails and fake websites Cybercriminals often create pretty convincing copies of retail sites or send emails that mimic popular brands. These are, unfortunately, becoming increasingly tricky to distinguish from the real thing.
2. Fake social media ads Unbelievable deals and too-good-to-be-true discounts often appear as ads for your favourite retailer on social media. Fake ads will direct shoppers to malicious websites, where they can end up with viruses or unwittingly give away private information.
3. Unsecured payment portals With so much virtual money flowing, payment portals are hot spots for hackers. This typically involves hackers accessing unsecured payment portals or finding ways to intercept transactions.
4. Data harvesting While you’re rushing against a clock to complete an online checkout, you may hand over more personal information than strictly necessary (such as your date of birth and phone number). While the online retailer typically collects your information for marketing purposes, it’s also very appealing to cybercriminals. If they can get their hands on it, they can steal your identity, open fraudulent accounts, or sell your data.
How to keep safe while shopping online this Black Friday and Cyber Monday While cybercrime is a real threat, don’t let it completely put you off from scooping up irresistible bargains, hefty discounts, and never-before-seen deals. All it takes is a bit of awareness and education to stay safe, while shopping up a storm. Here’s how:
1. Prep your devices If you plan to give your credit card an online workout during the sales, first check that your devices (phone, tablet, or laptop) are up to date with the latest security updates.
2. Check your passwords Still using your birthdate as your password? Now’s the time to check and change your passwords if necessary. In fact, the
Australian Cyber Security Centre recommends ditching passwords altogether in favour of passphrases. 3. Enable 2 Factor Authentication For an extra layer of protection, enable Two-Factor Authentication (2FA). This means that even if someone gets hold of your password (or passphrase), they’ll still need a second code (usually sent by text message) to access your account or verify a transaction.
4. Shop with retailers you trust Now is not the time to let a bargain lure you to a site you’ve never heard of before. Sale season is a time to stick with your tried-and-true favourites.
5. No HTTPS = No go The ‘S’ stands for secure, and shows that the site you’re on is encrypted. This means it’s more difficult (but not impossible) for attackers to intercept any of your data.
6. Don’t shop over public Wi-Fi While you might be tempted to jump on that deal ASAP, wait until you get home to the safety of your very own secure Wi-Fi connection.
7. Too good to be true? While you’re deep in a shopping frenzy, don’t forget the old adage “if it's too good to be true, it probably is.”
8. At the end of it all – review If you’re one to get swept up in the hype, reviewing your spur-of-the-moment purchases can sometimes be painful, but it’s a crucial step to check everything is in order. If you spot anything out of the ordinary, dig a little deeper into the transaction and contact your bank ASAP.
Want more cyber safety tips? The
Australian Federal Police have a series of videos highlighting common Black Friday and Cyber Monday scams to avoid and much more.
Stay cyber-safe and scoop up the bargains Black Friday and Cyber Monday are now well and truly embedded in Australia’s shopping calendar – they’re an exciting opportunity to snag bargains, but also a peak season for cybercriminals to do their thing. By staying alert, shopping smart, and following our simple safety steps, you can enjoy the thrill of the sales while keeping the risks at bay.
If you’re ready to take your bargain hunting to the next level, talk to your local
First National Real Estate about securing a new home in the season of sales. They’ll provide you with a free property appraisal or buyer consultation and help you on your way to making a life-changing deal!