51% of Aussies willing to pay more for sustainable items during EOFY sales: Gumtree
New research from Gumtree has revealed Australians plan to spend big during the End of Financial Year (EOFY) sales across a range of categories, with almost one in five (19%) intending to spend $1,000 or more.
In fact, two in five Aussies (41%) are holding out until the EOFY sales to purchase their next big ticket items – with furniture and appliances at the top of the most wanted list.
With seven million visits each month, Gumtree surveyed a sample of users across the platform to get insights into their EOFY spending plans to help brands and marketers understand consumer intent during this important season, so they can reach their audience with the right marketing strategy.
Gumtree’s research also revealed that over a third of respondents (36%) are planning on purchasing five or more items during the EOFY sales, and one in three (33%) look to spend over $500.
The environment is front of mind for consumers with over two thirds of respondents (67%) stating they prefer sustainable brands, while over half (51%) are willing to pay more for sustainable items and a third are willing to pay up to 30% more.
According to the findings, EOFY should not be limited to the retail industry, with respondents indicating that if offers were available they would upgrade or switch current plans for utilities and other services by 30 June. One in five (20%) would sign up for a new phone plan, while one in ten (10%) say they would upgrade their home internet or switch their energy provider this EOFY.
Gumtree’s research also revealed that parents with children living at home are expecting to spend the most with an average spend of $717 during this EOFY sales compared to an average of $535.
Respondents that choose to buy sustainable products most of the time/whenever possible are spending on average 73% more this EOFY than those who don’t ($833 compared to $481).
While Home Improvement, Furniture and Appliances topped the most wanted list at 36%, other popular categories include Electronics & Computers (20%); Clothing, Shoes & Accessories (14%); Auto Accessories (14%) and Adventure, Outdoor & Sporting Goods (10%)
One in four students intend to spend more than $1,000 in the upcoming retail sales, with an average spend of $559 before 30 June.
Gumtree head of partnerships, Erin Holt, told Mumbrella: “Probably one of the most interesting findings is the fact that consumers are keen to see EOFY sales expand beyond retail. This opens up a great opportunity for many brands to engage their audience and capture new customers during this time of the year. Utilities and services may be the clear winners here as one-in-five (20%) respondents said they would sign up for a new phone plan if EOFY offers were made available, while one-in-ten (10%) would upgrade their home internet or switch their energy provider.”
She added: “A very positive sign is seeing that sustainability and the environment are front of mind for Australians. More than half of consumers are ready to support with their wallets sustainable brands, and are willing to pay more for goods. In fact, as many as a third of them said they would pay up to 30% more for items that are sustainable. This shows that brands that are truly committed to making a difference for the good of the environment are likely to be backed by a significant number of customers.
“Parents with children living at home plan to outspend any other audience segment as they’re expecting to cough up on average $717 compared to the general average of $535. Another group that is ready for discounted prices is students, with a surprising amount (one-in-four) looking to splurge more than $1,000 before 30 June.”
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