Shoppers cautious of spending online, reveals Auspost study
The cost-of-living situation has led to a spending crunch among online shoppers, with many turning to EOFY sales events to save some extra cash.
Australia Post’s quarterly Inside Australian Online Shopping Report found that customer spending fell by 3.1 per cent in this financial year, however on average, 5.5 million households made an online purchase each month.
Younger generations – those aged 18 to 34 – have become “strategic shoppers” taking advantage of dedicated sales events to save while the average shopping cart size fell 6 per cent to $105.
Likewise, one in four Australian customers have turned to an online retail subscription such as loyalty programs and bundling services as part of cost-saving measures.
In the last quarter, regional Australia registered a 4.2 per cent year-on-year growth while metro areas grew at 0.7 per cent.
Australia Post executive GM of parcel, post and e-commerce service, Gary Starr, said the cost-of-living pressures are creating “short-term headwinds”.
“Australians are now more cautious and selective with where and when they spend their money, which is why online shopping carts are averaging smaller than last year.”
Starr advised retailers to “entice customers” through sales events, subscriptions, and other forms of rewards that create loyalty and repeat purchases.
- Further reading: Mosaic Brands partners with Australia Post