Boxing Day is tipped to be bigger than 2020 by a mile, the CBA is reporting. But where will consumers choose to make their purchases?
Boxing Day is tipped to be a big one this year, Commonwealth Bank is reporting. A major $4 billion is expected to be spent by Aussie consumers in-store and online this year, which is a huge increase on the $2.4 billion spent in 2020.
According to the report, the average spend will be roughly $557, which is up 14 percent from the previous year ($487). Furthermore, about 69 percent of shoppers said they’d be taking advantage of the Boxing Day sales.
“As the nation bounces back, Australians are embracing shopping and are excited to hit the sales. This is welcome news for retailers, who are keen to see consumers return after a tough few months, and is also great for consumers hoping to get good value from their shopping,” said Kate Crous, the CBA Executive General Manager, Everyday Banking.
Where will they shop?
The CBA report has found that roughly 41 percent of consumers will stick to the in-store shopping experience this Boxing Day, with a further 28 percent planning both in-store and online shopping.
What’s more, men are more likely to shop in-store than women (46 percent of males v. 35 percent of females).
Intent to purchase in-store remains strong as consumers prefer the in-store experience (46 percent) and look for inspiration and ideas (43 percent). However, the main motivations for those who wish to shop online include the convenience of e-commerce (60 percent), skipping queues (54 percent) and avoiding traffic (43 percent).
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