Generation X are top online spenders

Mozo

Sunday 13 January 2013

A recent analysis by the NAB has found that when it comes to spending money online either with a debit card or credit card, Generation X are Australia's top spenders.

Debit card online shopping screen.

Generation X, those between the ages of 32 and 52, spent an average of $1,133 a month in 2012. Compared to the average Australian spend of $850 a month. Generation X are sprinting out ahead, mostly due to their higher incomes and easy access to technology. According to NAB chief economist Alan Oster, those in their 30's and 40's are a key demographic for online spending. Following behind generation X were the Baby Boomers (Aged 52 - 66) with $1,016 a month and Gen Y (aged 22 -32) with an average $856 every month.

The biggest selling items around Christmas were the technology gadgets with a lot of traffic heading to the Apple store and other technology outlets, "It's just that that generation (Generation X) is involved in that technology base through work," said Russell Zimmerman of the Australian Retailers Association. And according to research from PayPal, people are starting to use their smart phones far more frequently when making online purchases.

Recent reports also show that many shoppers are taking advantage of the strong Australian dollar and using online shopping to find better deals on goods from overseas. What many shoppers may not be aware of is the high savings that can be made by doing a credit card or debit card comparison and that through finding a better deal online, they could reduce the cost of their repayments, fees and charges on purchases made with their cards.

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