Shopper’s annual End Of Financial Year study indicates that most Australians prefer to shop for EOFY sales in-store rather than online.
The study surveyed 2,516 Australians, 90 per cent of which will participate in some form in this year’s EOFY sales.
75 per cent of business owners spend more during this period than any other time of the year, for obvious reasons, while 48 per cent of consumers will spend more time considering purchases during the EOFY.
Elsewhere, the survey found 73 per cent of shoppers plan to buy a big-ticket item in the next six months,
34 per cent will try out new products and brands, and one third of shoppers will browse in-store before returning later to purchase items.
“End of Financial Year sales trends have evolved,” Shopper’s chief marketing officer, Karissa Fletcher explains.
“What was traditionally a business-to-business focus in the lead up to the financial year-end now presents an opportunity for brands to supercharge their marketing to consumers.
“While businesses take a tax-driven approach to purchases, securing equipment, technology and upgrades, the consumer is personally motivated and in search of a good deal – and both need to be reflected in the campaign creative.
“This sale period presents brands with a unique opportunity to target both business owners and consumers with time-sensitive discounts. A heightened sense of urgency, along with projected tax benefits, product and service upgrades and overall value, primes them for purchase.
“It’s also critical to build brand preference in the lead up to key sales periods when competing for consumers attention is at its peak.”