Some interesting data has come out of a short survey on consumer shopping intentions with EOFY sales which got into full swing this week.
According to mobile-first marketplace group ShopFully, 37% of survey respondents were shopping in the EOFY sales and 41% were still deciding if they would buy. Also, 89% planned to shop for EOFY sales in-store while 85% were open-minded about their purchases, happy to decide what to buy after perusing the sales.
A further 38% said they would spend more during the 2021 EOFY sales than they did the previous year, with the average budget ranging from $200 to $500.
The most popular product categories for EOFY shopping are fashion (50%), technology (46%) and home appliances (36%).
These findings support ShopFully’s recent research from Nielsen which reaffirmed that Australians love a bargain, with nearly two-thirds regularly shopping for sales. And for the estimated 34% of consumers who have been forced to become more careful with their spending due to budget constraints from Covid, EOFY sales present the chance to secure big discounts.
According to ShopFully country manager, Dean Vocisano EOFY is a key moment on the retail calendar with 85% of survey respondents saying their purchase decisions were likely to be influenced by good deals and bargain prices.
“For retailers looking to drive traffic in-store and increase sales before June 30, there’s an opportunity to double down on digital to reach customers who are planning their shopping trips on their smartphone from the comfort of the couch,” he said. “The physical store experience is just as important, with customers craving simplification, from finding products easily to a seamless checkout.”