Startups, innovators, and entrepreneurs will now be more equipped to understand Australian shoppers and the latest trends impacting the sector.
The Australian Retailers Association (ARA) has partnered with Shopify to help online businesses make “data-driven decisions.”
The e-commerce platform has a significant impact in Australia, with reports of it powering more than a quarter of online shopping in the region.
Shopify’s Shaun Broughton says, “[The company] brings every aspect of commerce together under one roof. This unified approach helps retailers consolidate their data in one place.”
Shopify: Australian shoppers spend less
A recent study conducted by Shopify indicates that nearly 80% of Australian shoppers spend less, and 54% shop for sales and bargains.
With tight budgets and value for money at the top of mind, customers’ spending has lowered. The report has shown how the cost of living crisis is weighing down on consumer spending.
ARA CEO Paul Zahra says bargain hunting and window shopping are now priorities. “It makes for a tough environment in retail. [Australian shoppers are] very value-driven.”
Aussies cut non-essential spending
The Australian Bureau of Statistics (ABS) released its quarterly spending update, revealing how households are cutting back on non-essential spending.
Essential item spending spiked by 5.4%, while non-essential item spending dropped by 0.6%.
Household spending rose in all states and territories in calendar-adjusted terms compared to the same time last year. The largest percentage rises in spending were seen in Western Australia (+6.8 %), Queensland, and the Australian Capital Territory (both +5.6%).
Value over luxury
The data also indicates that households are spending less on services and more on goods compared to previous months.
Furnishings and household equipment year-on-year, as well as goods and services, account for the highest rise in annual spending in June.
However, alcoholic beverages and tobacco fell by 12.8%, while consumers spent nearly 4% on prioritizing their health bills.
Photo credit: Australian Bureau of Statistics
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Mia is a multi-award-winning journalist. She has more than 14 years of experience in mainstream media. She's covered many historic moments that happened in Africa and internationally. She has a strong focus on human interest stories, to bring her readers and viewers closer to the topics at hand.
