Mr Ferrier warned shoppers to be careful when they were involved in mass sales and to make sure they actually save money.
"Check the price and see what happens in the usual way, you may not get any understanding," he said.
Retailers, including David Jones, JB Hi-FI, Kogan, Woolworths, Myer and Harvey Norman, are looking to promote Black Friday sales.
Research at Finder.com.au suggests that 70% of Americans are participating in the sales event with some camping outside stores to get secure deals.
About 21% of Australians are spending about 320 million dollars in the online week and in the store.
Kogan.com.au spokesperson Lauren Dalton said the online shopping destination started Monday at Black Friday and claimed that more than 2000 offers will be available from Black Friday. Some will go up to Cyber Monday.
"[Kogan] the love of a sale, so I'm always eager to start it, "she said.
Ms. Dalton suggests customers start shopping early and sign up for email alerts to stay on the pulse of transactions as they come through.
She said last year, Black Friday's Kogan.com sales exceeded Boxing Day sales.
Though retail conditions were heavy, the Deloitte 2018 Merchant Survey showed that 80% of retailers expect to see more Christmas sales than last year, and 79% of them expecting a 10% increase in sales.
"One of the key issues we are seeing is to bring Christmas sales from December to November," said David White, the retail leader of Deloitte Australia.
"It's a great way to understand what consumer demand is all about – these are becoming more and more popular, all about creating a vibe and excitement and a buzz for buyers."
Retailers are often optimistic in full swing to Christmas, according to White, and if Black Friday does not go as expected, it changes inventory levels for Christmas, he said.
Mister. White said that Australian retailers are investing much more in their digital strategy to keep up with Amazon's new presence in the country.
It's a drop in the ocean, though most of the sales will be in the store.
David White from Deloitte
Mister. White said that in the United States, 57% of total household spending is online, and in Australia online spending is only 10%.
"It's a drop in the ocean, though most of the sales will be in the store," Mr. White said.
Australia's retailer's executive director, Russell Zimmerman, said sales days will "encourage retailers to prepare for the upcoming Christmas battle that takes place during the crowded trading period."
Australia Post Service of ShopMate allows deliveries to buyers if they want to buy from retailers that do not allow shipping to Australia.
PayPal also issued a warning to buyers to be careful about safety while shopping and advised them not to use unsafe public WiFi and to look for "blocking" next to the website address.
Black Friday Offers:
- David Jones sells up to 60% off – Samsung TV $ 7699 to $ 2999
- Chadstone advertised over 200 exclusive offers, just one day
- Woolworths offering hundreds of products at half price
- Kogan offering 2000 "offers"