One in two Australians are relying on catalogues to cope with the rising cost of living, according to new research released today from ShopFully, the online platform that aggregates the information, offers, and services of local stores, and Nielsen, a global leader in audience measurement, data and analytics.
The commissioned study into Aussie consumers’ path to purchase highlights shoppers are under financial pressure, with three in four (72 percent) reporting their day-to-day life and shopping behaviours had poorly been impacted by the rising cost of living and current economic conditions.
Almost four in five (77 percent) of those impacted are cutting back on non-essential purchases to save money, signalling a mass change of mindset where Australians are becoming more practical in their spending. With the food and non-alcoholic beverages category seeing the most significant uptick in prices, second only to housing costs, 71 percent of consumers now opt for the cheapest grocery shopping option. This includes taking home generic branded or on-sale products, with 67 percent reporting they’ve stopped buying their favourite products altogether because of price hikes.
Brendan Straw, ShopFully’s Country Manager of Australia, said in response to the current economic landscape, Australian shoppers are increasingly apprehensive about where they put their money.
“Nationwide, shoppers are adopting money-saving techniques and trading brand loyalty for the best value. Aussies have always loved a bargain, but now more than ever, ensuring they’re cashing in on the best price is top of mind, especially when it comes to discretionary spending. Sixty-six percent of consumers put off these purchases until the item they wanted was on sale, potentially waiting for significant retail moments such as EOFY or Black Friday sales.
“No more are Aussies hitting stores on a whim, but rather are becoming more deliberate and strategic in their approach to saving, with the catalogue being top of the list as a hack to help the weekly budget,” said Straw.
Straw continued that two-thirds (66 percent) of those impacted by economic conditions stated they’d started planning their grocery shop by browsing catalogues to capitalise on special offers.
When deciding on purchases, three in four (75 percent) consumers always or sometimes use catalogues, and 64 percent do so to find the best promotions and deals. Amidst the resurgence of the brick-and-mortar store, one in two Australian consumers uses catalogues as a top source of information when planning in-store shopping visits, with 66 percent of catalogue readers browsing digital catalogues at least once a week.
“As shoppers continue to feel the cost-of-living pinch, the ‘budget-conscious shopper’ has become the everyday Australian. Having done their research to compare prices, consumers who approach spending with a tactical plan can significantly reduce their weekly grocery shop, saving upwards of $50-$100 a week.”
