Almost half of Australians (47%) are shopping for lower-priced brands more now than they did this time last year, according to a Pulse Survey in April 2023 by Monash University’s Australian Consumer and Retail Studies (ACRS).
The report’s lead author Dr Eloise Zoppos - research and engagement director of the ACRS research unit - said Australian shoppers are continuing to become more conscious of what they’re buying.
“Cost of living increases are top of mind for all Australians right now,” Dr Zoppos said. “Our research shows that Aussies are becoming more and more mindful of what they’re spending and are becoming more price-driven than they were at the same time last year.
“Some are shopping for lower priced brands or alternatives more than they did in 2022, while others are holding off until a sale, and some are even deferring a purchase indefinitely.”
As well as the trend towards lower-priced brands, 35 per cent of Australians are shopping for locally produced products more than they did a year ago, and 30 per cent are shopping more for environmentally friendly products.
“Coming out of ‘Australian Made Week’, it’s heartening to see more Australian shoppers wanting to shop for products that are locally produced,” Dr Zoppos said.
“It’s a finding that we’ve been seeing in our research for several years, and one that really started to emerge strongly during the pandemic as Australians became more conscious of their broader shopping habits.”
Dr Zoppos said it is clear that sustainability is not just a trend, saying Australians are rejecting a throwaway culture and are becoming mindful of their purchase habits.
Meanwhile, when it comes to clothing, footwear and accessories, the survey found Australian shoppers are evenly split, with 27 per cent reporting that their spend is more, and 29 per cent reporting that their spend is less, compared to a year ago.
The survey collected data from 471 randomly selected Australian shoppers who visited various centres around the country.