Originally published: MarketingMag, 05 September 2023
The heightened cost of living has rattled purchasing priorities of Australian consumers as most shoppers have less to spend on non-essentials, according to a new research report.
The ‘Australian Ecommerce Report 2023’ from IAB Australia and Pureprofile reveals that the concerns of online shoppers are changing in response to the current economic climate, based on a July survey of 1,000 Australians aged between 18 and 70 that had shopped online at least once in the last year.
In a sad turn of events, values that have underpinned ethical lifestyles of recent years are being put aside in favour of financial caution.
“Australians have been enjoying omni-channel shopping experiences and maintaining their online retail habits formed over previous years during COVID,” says Gai Le Roy, CEO of IAB Australia. “However, with the current economic downturn, shoppers are feeling the financial pressures from interest rate rises and increasing costs of living.”