Shopper Media today released its EOFY Shopper Study findings, which reveal more than half (57%) of Australian shoppers are planning on snapping up a bargain in the end of financial year sales, commencing 1 June. In this article, Karissa Fletcher, Head of Marketing at Shopper Media, discusses the latest findings from the EOFY Shopper Study and how shoppers are being savvy with their spend in the wake of COVID-19.
The End of Financial Year Shopper Study was conducted as an online survey, with 3,072 Australian consumers responding nationally. The field work was conducted between 8 May – 9 May and on 18 May 2020.
Our recent Consumer Sentiment Study indicated that shoppers are being more financially cautious due to the economic impact of COVID-19. These latest findings from our EOFY Shopper Study support that premise, with 41% of shoppers admitting they typically look to shop the EOFY sales.
One in 5 shoppers, or 23%, are considering purchasing technology or office equipment, which is indicative of Australia’s recent shift to working from home. The survey suggests that Australians have realised that their tech and home offices need an update, with 28% looking to the EOFY sales to find a bargain.
Research has shown that the shopping experience itself and the anticipation of the reward, rather than what we actually buy, is what makes shopping attractive.
When asked which product category would be most likely to make shoppers feel instantly rewarded or gratified, clothing, shoes and accessories came in at 23%, followed closely by beauty and health, electronics and office supplies, and toys and video games, all at 18%.
These statistics highlight that shoppers feel the most pleasure when purchasing personal goods, and further supports the theory that home offices are becoming the new norm.
Shopper Media utilises its network of Smartlite® panels installed in more than 370 shopping centres nation-wide to accurately target audiences in close proximity to the point of purchase. The 100% digital panels’ Wi-Fi and virtual Bluetooth beacons give Shopper Media the advantage of knowing exactly what is happening in any of its centres in real time, including footfall and visitation patterns, peak trading, dwell time and more.