Aussies are becoming strategic shoppers and looking for ways to make their dollar go further as the cost of living bites.
Australia Post’s new Inside Australian Online Shopping Report found Aussies - particularly younger generations - were being more cautious and selective with where and when they spent their money.
Sales events, including EOFY sales and Click Frenzy, are also growing in popularity as shoppers look for ways to maximise their dollar.
So far for 2023, the number of online purchases is down 1 per cent from last year. The average online shopping cart has also taken a hit, down 6 per cent to $105.
Despite the overall dip in online purchases, households participating in online shopping are continuing to grow, with 5.5 million households making an online purchase each month - up 3.9 per cent compared to the same quarter last year.
The Northern Territory led the charge this quarter, with an increase of 9.3 per cent in online sales, year on year, followed by Western Australia and Queensland.
How are Aussies saving money?
The vast majority of young Aussies aged 18 to 34 planned to shop - or had shopped - during dedicated sales events, Australia Post found. EOFY sales, for instance, were up 4.34 per cent, year on year.
Customer loyalty programs (such as MECCA’s Beauty Loop) and bundling services are also popular among shoppers, with one in four using online retail subscriptions to cut down on costs.
Australia Post executive general manager parcel, post and eCommerce services Gary Starr said it was clear cost-of-living pressures were having an impact on shoppers.
“Our love affair with online shopping hasn’t waned, however, cost-of-living pressures are creating short-term headwinds,” Starr said.
“This is an opportunity for retailers to entice customers via sales events, subscriptions or other forms of rewards that create loyalty and repeat purchases.”