Aussie Shoppers Spend Big Online Ahead of Rate Cuts
Looks like Australians have been busy filling their online shopping carts! With inflation cooling, interest rates easing, and end-of-financial-year sales in full swing, shoppers have been snapping up bargains — and in a big way.
According to Australia Post’s latest eCommerce Report, Australians spent a massive $19.2 billion online in the last quarter alone. That’s a 15% jump in online spending compared to the previous quarter, with 7.9 million households choosing to shop online.
Driving the surge? A combination of strong EOFY sales and growing consumer confidence, boosted by two interest rate cuts from the Reserve Bank — one in February and another in May — bringing the cash rate down to 3.85%.
“With inflation cooling and consumer confidence returning, we’re seeing more Australians shop online,” said Australia Post’s Chelsea O’Reilly.
But it’s not just about spending more — it’s also about expecting more.
“Shoppers want it faster, easier, and better value,” O’Reilly added. “Retailers that focus on customer experience, like speedy delivery and flexible options, will stand out in today’s competitive market.”
During the quarter, department stores saw a whopping 28% spike in spending as Aussies hunted down big discounts during the sales.
Interestingly, people are buying more frequently, but spending slightly less per order. The average online shopping basket was $96, down 1.6% compared to a year ago.
So, who’s doing all this shopping?
Millennials were the biggest spenders, racking up $6.9 billion in purchases.
Gen X followed with $5.3 billion, and
Gen Z came in third with $3.4 billion — but they had the biggest growth, up 16% year-on-year.
And when it comes to where the most online shopping is happening, Queensland takes the crown. Toowoomba, Mackay, and Bundaberg topped the list, followed by Point Cook in Victoria and Mandurah in WA.
With confidence returning and shopping habits evolving, it’s clear Aussies are making the most of the digital checkout — and retailers better be ready to keep up!
Stay tuned with Aus News Lanka – the leading platform for news for Australians.
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