If you haven’t completed your Christmas shopping list yet, you are at risk of being in the minority of Australians.
A survey by e-commerce technology provider Shopify found 53 percent of Aussies planned to finalise their holiday shopping lists by October, with that number jumping to 70 percent for those with children living at home.
Australian Retailers Association Chief Executive Officer Paul Zahra said Australians stuck in a prolonged cost-of-living crunch were starting their festive shopping increasingly early.
Mr Zahra said the new data also showed 68 percent of Australia’s would have done the bulk of their shopping by the end of November.
He said the survey of 2000 Australian consumers found this year’s Black Friday-Cyber Monday (BFCM) sales would be busy.
“Almost half (49 percent) of Australian consumers intend to do the majority of their holiday shopping that weekend (29 November to 2 December).”
Mr Zahra said the majority of Australians (56 percent) planned to set a “clear” spending budget, however 36 percent said they usually exceeded their festive shopping budget.
“The ongoing hit to discretionary spending means consumers are being extremely strategic with their dollars, a reality reflected both at the till and in Shopify’s data.
“Many discretionary retailers make the majority of their profits during the festive shopping season, but this evolution in consumer habits means they need to adapt how and when they prepare for an earlier gift purchasing period, accommodating customers who are searching for the best deals much earlier.”
Mr Zahra said merchants needed to strategise around a longer sales season, as consumer behaviour shifted towards conscientious planning and away from spontaneity.
