How Aussie shoppers intend to spend this Boxing Day
New research from Australian financial tech company Zip finds that Aussies are planning ahead of Boxing Day to make sure they’re ready to shop.
Zip says 23% of Australians started planning 1-2 weeks prior to Boxing Day to make the most of the major sales event.
Similar findings from Commbank show that 42% of Aussies intend to shop in the Boxing Day sales, up 3% from the 39% who said they shopped last year.
Shopping intentions change with higher costs
While the number of people planning to shop has increased, the estimated average spend this year has gone down. Commbank says the average planned spend this year is $483.20, compared to last year’s $501.60.
This is very likely a reflection of current high costs hurting people’s wallets.
Commbank’s data also shows that many people will likely take advantage of the Boxing Day sales to save money on items they’ll purchase anyway. Meanwhile, 78% of people say they’re planning to use the sales to purchase essential items at a lower price.
CBA’s general manager of shopping, Rochelle Eldridge says it’s good that shoppers are using the sales this way.
“Hopefully the discounted prices will provide some relief to many Australians’ hip pockets to help them get items they need at a more affordable price,” she said.
When asked their reasons for choosing not to shop, 40% of people say they’re not sure they have enough money and 28% can’t afford it due to the rising cost of living, as per CommBank.
Fashion, booze and beauty products? Some want to treat themselves
Despite the impact of higher costs, there are still people who are willing to treat themselves in the sales.
Zip says that 71% of shoppers want to ‘treat themselves’ in the Boxing Day sales.
The most popular sales category is fashion, followed by groceries and liquor and beauty and wellbeing.
Post-pandemic trends
With this Christmas being the first “normal” year since the start of 2020 for consumers, trends show that more people will be embracing the ability to shop in physical stores.
Zip’s research has found that 1 in 2 shoppers plan to visit stores in person to do their Boxing Day shopping. Similarly, Commbank found that 52% of people will be shopping in store, while the majority (68%) still intend to do their shopping online or via their mobile.
If you plan on shopping in the Boxing Day sales this year, be sure to prepare yourself ahead of time. For more information about when sales start and what will be on sale, check out our Boxing Day sales hub!