Australians are turning to affordable retail therapy despite household spending slowing across the nation according to Australia Post.
Australia Post’s latest quarterly Inside Australian Online Shopping Report indicated
shopping for fashion and apparel had spiked in FYQ4 with the number of online purchases up 19.1 per cent on last year.
Overall, online purchases grew by 2 per cent in the past year which was partially driven by the continued popularity of key sales events like the End of Financial Year, where spending grew by 4.4 per cent compared to the same period last year (17 to 30 June).
Health and beauty and hobbies and recreation has also increased by 6 per cent and 1.3 per cent respectively, however a reduction in basket size by 2.6 per cent year-on-year suggests that despite parcel volume growth, shoppers are opting for more frequent but less expensive purchases.
Across the country, Tasmania saw the strongest growth in online purchases year-on-year at 8.1 per cent followed by the Northern Territory (6.7 per cent) and Queensland (5 per cent).
Australia Post Executive General Manager, Parcel, Post and eCommerce Services Gary Starr said online shopping continued to be a growing preference for Aussies who were looking to combat the cost-of-living crunch.
“While Aussies are looking to stay on-trend, they are also looking to stay on-budget, with affordable fashion driving sales,” he said.
“Household spending data shows that Australians are being careful with how they spend their money, and we’re seeing online shopping help them manage costs and shop strategically for affordable items.
“As e-commerce volumes continue to rise, we know shoppers are taking advantage of sales, managing the size of their baskets, and using online shopping to help compare costs.
“Retailers should note that while overall spending may be down, there are still plenty of opportunities to connect with their customers online – particularly during sales periods.”
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