A recent study suggests that Australian consumers are spending less time but more money when shopping online. Rather than making frequent small purchases online, consumers are now beginning to spend more in fewer purchases over the internet. The two biggest sales categories are high fashion and high-end electronics, which may in part account for the higher price tag. The study also points to increased customer loyalty, with consumers generally purchasing from no more than 3 brands in a given quarter.
This new trend also suggests that consumers’ attitudes toward online shopping are steadily changing. In the past, online shopping has been viewed as a risky venture not amenable to big ticket purchases. Now, however, online consumers are beginning to trust more and more in online commerce outlets. With this strengthened trust comes an accompanying willingness to spend more online.
However, this new attitude has not translated to more actual purchases made. Instead, Australians are choosing to go big when online shopping. Rather than making small, safe purchases online and saving the bigger purchases for local brick and mortar retailers, the opposite seems to be occurring. Australians are now reserving the big money for online purchases.
The report, which was compiled by CommBank Retail Insights, includes a survey of over 500 retailers and $3 billion in transactions. It reveals that approximately two-thirds of all consumers are shopping online for just two categories of goods, the above mentioned high-end electronics and high fashion items. This trend likely represents not only enhanced trust in the security of online shopping, but may also point to a lack of availability in local markets.
Another interesting find of the survey deals with consumers mobile habits. In fact, it is expected that the percentage of sales made using mobile devices will soon double. This suggests that including mobile-friendly options in your online marketing is key to building your customer base.