More Aussie shoppers spending locally and digitally, finds CommBank

Fresh stats have shown that over half of Aussies shoppers are opting for home grown. 

This is according to CommBank’s first ever Consumer Insights Report which evaluated the impact of the COVID-19 pandemic on Australian consumers. 

The report delved into the spending habits of Aussies and revealed that more consumers are choosing to make purchases from local businesses instead of overseas. 

And it’s across a range of items, the most popular included:

• Recreational goods: 59% 
• Fashion: 58% 
• Consumer electronics: 55% 
• DIY, building, garden & hardware: 55% 
  

“It’s great to see consumers supporting local Australian businesses. We’ve seen Aussie businesses adapting to consumers’ changing needs and their customers have noticed,”  Commonwealth Bank’s executive manager, consumer and diversified industries, Jerry Macey, said.

“There is goodwill among customers and an overall perception that the retail experience has improved across online, in-store and delivery services. It’s a credit to these businesses that they’ve been able to adapt and thrive during such a challenging period.”

How are Aussies making purchases? 

CommBank’s report found that over 2020, one in two people (49%) were shopping more with Australian online retailers, and 52% say they'll continue in 2021. 

Plus, the use of mobile wallets is also on the rise, where Aussies are opting to pay with their credit card or debit card on their smartphone through services like Apple Pay, Samsung Pay and Google Pay. 

While 41% of spenders are using this digital payment option, 39% of them said they are using it more frequently now than before the pandemic. 

This was in front of Buy Now Pay Later (which 33% of consumers are using) that saw 34% of spenders bump up their usage, and credit cards, one of the most popular payment options (80%) which saw a growth in usage of 33%.  

On top of that, recent numbers from Mastercard’s Payment Index: The Australia Forecast Report revealed that 65% of Aussie spenders are open to using digital payment options in order to save money. While over half (55%) claim they have already saved from going digital. 

But no matter whether purchases are online or offline, made with a digital wallet or a credit card, Macey says that more spending on local businesses and products is likely set to stay. 

“Consumers adopted a more local focus, and whether that’s on Australian made products, or shopping in their local area, we expect this to remain a priority.”

As to be expected, CommBank found that cash usage was the only payment option listed where the majority of consumers (58%) claimed to be using it less frequently. 

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