Australians splashed out more on live experiences than on discount deals in November, as blockbuster concerts and sport overshadowed Black Friday sales, according to the latest CommBank Household Spending Insights (HSI) report.
The Ashes series in Perth and concerts by AC/DC, Oasis and Metallica helped make recreation the standout category, with the release of Wicked: For Good also boosting cinema spend.
“Households prioritised experiences in November, and the month’s busy calendar of sport and entertainment provided a strong boost to spending,” said Belinda Allen (pictured), CBA head of Australian economics, in a media release.
The shift in spending comes as the Reserve Bank keeps the cash rate on hold at 3.6%, warning that underlying inflation has picked up again and signalling upside risks to rates heading into 2026.
Overall household spending rose 0.5% in November (seasonally adjusted), with nine of 12 categories recording gains.
Recreation led the way, up 1.6%, followed by insurance and motor vehicles (both +0.9%). Hospitality and household goods each rose 0.7%.
On the downside, Utilities fell 2.1% as the last of the energy rebate payments washed through, while Food and Beverage Goods slipped 0.2%. Transport spending was flat.
Black Friday still delivered a lift for key retail segments, with electronic, clothing and furniture stores all recording solid gains. But unlike previous years, discount events no longer dominated the month.
This time, retail trailed recreation, with Australians appearing to spread spending more evenly across categories and months rather than concentrating purchases around major sales days.
“Patterns of consumer spending have evolved over recent years as sales events have shifted to as early as October, and we’re seeing less lumpiness in spending as a result,” Allen said.
CommBank’s HSI index is showing annual growth of 5.5% in 2025, underpinned by improved household incomes and wealth. That resilience suggests the economy is heading into 2026 with solid momentum, particularly in discretionary categories.
“The risk of potential rate hikes in 2026 gained traction over the past month and is now elevated post the hawkish December RBA meeting. Robust spending will be part of that conversation,” Allen said. “For now, households appear well-positioned, with incomes and savings supporting confidence.”
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