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77% of Shoppers Wait for Online Sales Events, PLUS Top Three Sales Events Revealed
The latest survey data reveals the most popular sales events of the retailer calendar with consumers saying the save to participate.
Each fortnight, Power Retail surveys over 1,000 online shoppers to find out exactly how consumer behaviour is changing over time. The latest data reveals that Black Friday is now the dominant sales event in the annual promotional calendar, with 58% of consumers saving to participate. Click Frenzy November is nipping at the heels of Black Friday in close second, at 56%, then followed by the traditional Australian sales event day, Boxing Day, at 40%.
This highlights the need to plan well in advance for the critical November and December sales periods, as consumers are increasingly withholding spend until they are guaranteed a sizeable discount.
In fact, more than three out of four consumers surveyed said that they deliberately wait for online sales events to make their purchases (77%).
When asked their favourite items to purchase at an online sales event, Fashion comes out on top as the most popular category for 71% of respondents. The second highest purchase category was Electronics at 57%. Kids & Pets hardly registered as a category that shoppers choose to purchase during sales events, highlighting that these categories are typically seen as essential purchases.
Consumers also said that they spent an average of $179 during their last sales event.
Find out more, including the discount required for an immediate ‘add to cart’ and whether shoppers prefer online or in-store sales events. Download Trajectory #49, FREE to Power Retail Switched On Members.
PLUS join our fortnightly Market Update, in which we present findings from the most recently published Trajectory Reports. FREE to join (for both Switched On members and non-members), and just 15 minutes! Our next Market Update will take place on Wednesday 10 August at 1 pm, and we’ll be taking a deep dive into Sales Events. Register here.
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