The end-of-financial-year sales period remains one of Australia's biggest retail events, with spending expected to increase slightly this year despite a gloomy economic outlook. A survey by the Australian Retail Council and Roy Morgan indicates that about 26 per cent of Australians plan to shop during EOFY sales, with total spending projected to hit $10.7 billion.
Age Groups Show Different Spending Habits
The survey reveals significant differences across age groups. Australians aged 35 to 49, often in their peak mortgage and family-raising years, are more restrained. They plan to spend an average of $1464, compared to $1946 for those under 35 and $1993 for those aged 50 to 64.
Fleur Brown, ARC chief industry engagement officer, noted that this middle group feels the economic pinch most acutely. "The research suggests Australians in their peak mortgage and family-raising years remain more restrained than other age groups when it comes to EOFY spending," she said. In contrast, older Australians, who are more financially established and often own their homes outright, are expected to spend more.
Popular Categories and Shopping Preferences
The most popular categories this EOFY are clothing, footwear and accessories (34 per cent), household appliances and white goods (15 per cent), and electronics and technology products (12 per cent). More than half of respondents plan to shop at physical stores, while online sales are expected to account for about 44 per cent of spending.
Brown emphasised that EOFY sales offer Australians a chance to secure discounts on a wide range of products, and retailers are offering compelling deals. Overall, 37 per cent of intending shoppers expect to spend more than last year, 36 per cent about the same, and 27 per cent plan to spend less.
