Are you guilty of this bad online shopping habit?

bad-shopping-habits

Whether you’re straight up addicted or only use it when you have to, most of us have made one online purchase this year. But according to new research by MyState Bank, we might have added a few negative money habits to our virtual cart. 

The research found that bad online shopping habits are costing the average Aussies more than $400 a year! 

Some of the bad habits included buying more items to hit the ‘free shipping’ limit (48%), not returning an item that wasn’t right or didn’t fit (24%) or using online shopping as a way to kill time and boredom (23%). 

Other silly shopping habits included purchasing unnecessary items because they were on sale (21%) and storing their credit card details in their favourite websites to allow for faster and easier future purchases (17%). 

“With the online sales season in full swing, our research uncovered Australians are engaging in online shopping habits which are likely burning a hole in their pockets. We calculated costly habits are costing online shoppers an average of $424 each year,” said MyState Bank general manager, customer experience Heather McGovern. 

Interestingly, 36% of Aussies believe that they spend more money shopping online than they do when shopping in physical stores, while 65% said the time spent shopping online since the COVID-19 pandemic began has increased. 

“While many Australians enjoy the convenience of online shopping, the danger is that there aren’t many barriers to spending money. Compared to shopping in a store, consumers don’t have to put as much effort or thought into adding things to their cart.”

2020 delivers a new way to shop

At the height of the COVID-19 pandemic, many Aussies felt uneasy about entering physical shopping centres to get what they needed. They therefore changed course, perhaps for good. 

MyState Bank found that 44% of online shoppers are now purchasing items previously bought in-store before the pandemic hit, like clothing and groceries. And according to McGovern, it’s the one shopping trend that’s here to stay. 

“Our new research reveals how dramatically shopping habits have evolved over the past several months, with many of these behavioural changes likely to permanently reshape the way Australians shop in the future,” she said. 

“The shift to online shopping over the last decade has been slowly embraced by most Australians, but the pandemic has put this trend into hyper speed – and there’s no going back.”

So, if you’re planning on making online shopping your preferred way to shop, you might be in need of a low rate credit card that can keep up with your spend. 

You can compare a range of credit card options by heading over to our low rate credit card comparison tool!

Compare low rate credit cards - rates updated daily

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure.
  • Apply By 31 October 2021
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    Bendigo Bank Low Rate Credit Card

    0% p.a. on purchases for 12 months (Reverts to 11.99% p.a). Also 0% balance transfer for 12 months. Low annual fee of $45 and no fees for additional cardholders.

    Purchase rate
    Balance transfer rate
    Annual fee
    0% p.a. for 12 months then 11.99% p.a.
    0% p.a. for 12 months and then 11.99% p.a. (2.00% balance transfer fee)
    $45
    Go to site
    Details
  • Apply By 30 November 2021
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    St.George Vertigo - Cashback Offer

    $300 cashback when you take out a new Vertigo Credit Card and spend $4k on eligible purchases within 120 days of the new card approval. No annual fee for the first year, $55 thereafter. New cards only, Eligibility criteria and T&Cs apply. Offer ends November 30th 2021.

    Purchase rate
    Balance transfer rate
    Annual fee
    13.99% p.a.
    6.99% p.a. for 12 months and then 21.49% p.a.
    $55 $0 in the first year
    Go to site
    Details
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    NAB StraightUp Card

    $10/month - $1,000 Credit Limit

    Pay no interest and no late payment fees, just a $10 monthly fee for a $1,000 credit limit. Plus, if you don't make any purchases and have an outstanding balance of $0 during the whole statement period, the monthly fee will be reversed. Also pay no foreign currency fees when you shop online or overseas. Mozo Experts Choice Credit Card Innovation Winner 2020^.

    Purchase rate
    Balance transfer rate
    Annual fee
    0% p.a.
    No current offer
    $120 $10/month - waived if no spend & no balance owing
    Go to site
    Details
  • Apply By 30 November 2021
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    Bank of Melbourne Vertigo

    0% p.a. for 30 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. No annual fee for the first year, $55 thereafter. New cards only, Eligibility criteria and T&Cs apply. Offer ends November 30th 2021.

    Purchase rate
    Balance transfer rate
    Annual fee
    13.99% p.a.
    0% p.a. for 30 months and then 21.49% p.a.
    $55 $0 in the first year
    Go to site
    Details
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    NAB Low Rate Card

    0% p.a. interest on balance transfers for the first 32 months, plus a low ongoing purchase rate after that means you can spend with confidence. There's also up to 55 interest free days on purchases to help you manage your budget better.

    Purchase rate
    Balance transfer rate
    Annual fee
    12.99% p.a.
    0% p.a. for 32 months and then 21.74% p.a. (0% balance transfer fee)
    $59 $0 in the first year
    Go to site
    Details

^See information about the Mozo Experts Choice Credit Card Awards

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