Aussies are set to spend $10.5 billion on end of financial year sales as bargains start to drop
Australian shoppers are tipped to spend $10.5 billion on end of financial year sales, up $400 million. This is what’s trending and one item in hot demand.
National
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Australian shoppers are tipped to spend $10.5 billion on end of finiancial year sales, up $400 million on last year.
New figures released by the Australian Retailers Association (ARA) and Roy Morgan found that more than a quarter of Aussies - around 6.1 million people - will once again hit bricks and mortar stores to snap up a deal.
It also revealed that the percentage of people planning to spend online is down 11 per cent on last year.
ARA Chief Industry Affairs Officer, Fleur Brown, said the downward turn may indicate people are planning to hit the stores more this year for “bigger-ticket bargains”.
Ms Brown said the most popular categories this year are clothing, footwear and accessories, household appliances, white goods, electronics and tech.
She said the sales are important for retailers this year, given the slowdown in discretionary spending during the cost of living crisis.
“Household budgets have been under significant strain and the mid-year/EOFY sales are a great opportunity for shoppers to get great value for money,” she said.
“Many savvy shoppers are on the lookout for work-related products to claim on their tax return. This is making computers, phones, and other technology highly sought after.”
Harvey Norman’s Executive General Manager for Computer Technology Darren Salakas said the biggest trend this year is “Next Gen AI devices.”
These include Windows PCs, laptops, mobiles and connected home tech, while gaming PCs and wearable tech were also in high demand.
“There’s a major trend happening at the moment where tech lovers and professionals are investing in these powerful PCs, not only to supercharge their productivity at work, but for their gaming experiences when they get home,” he said.
“Wearable tech is also booming. Leading the charge is the sleek new Ray Ban meta smart glasses, which combines fashion and function.”
Officeworks General Manager of Merchandise Jarryd McCarthy said supplies like paper, ink, pens and Post-Its are high on EOFY shopping lists.
“EOFY is also a key moment for shoppers looking to update their office set up for both form and function, with sit stand desks, ergonomic chairs, office storage and filing items all popular tax time purchases,” he said.
Mr McCarthy’s top tip for the sales is to get in early.
“June 30 falls on a Monday this year so we’re expecting the last weekend of June to be particularly busy,” he said.
MYER Chief Merchandise Officer Belinda Slifkas said customers are looking for greater value without compromising on quality investing in seasonal items that deliver warmth, style and longevity.
But there are deals right across homewares, beauty, fashion, tech and travel.
“We’ve seen a strong lift in demand for winter home comforts, particularly for flannelette sheets and quilts. Customer favourites like air fryers, cookware sets and vacuums remain popular,” she said.
“In fashion, trench coats and oversized silhouettes have been standout performers, especially in seasonal tones like camel and burgundy.
“Through our Pay with Points partners like CommBank, Virgin Velocity and AMEX, it provides even more ways for customers to save on their purchases. These programs can also be used with MYER one, so customers will continue to earn points towards their next reward, while using their current loyalty points to pay.”
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Originally published as Aussies are set to spend $10.5 billion on end of financial year sales as bargains start to drop
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