There has been a whole lot of moving and shaking in the retail space, with brands and businesses having to pivot left, right and centre to stay relevant and accessible to the changing consumer behaviours of Australian shoppers. So as we enter a new year, how can we best reach our target markets and stay front of mind when it comes time to push the ‘pay now’ button?
Meet the needs of your customers by considering these three purchasing trends underlying how Australians are choosing to shop today.
The mobile shopper
We are exercising, socialising, working, shopping and more—online. It’s not just Gen Z and Millennials anymore; it is all of us. Australia Post reported more than 8.1 million households shopped online between March and August last year, an increase of 16% from the same period the year prior. Two thirds of these households have continued to shop online due to convenience and most of us are finding out about brands, comparing prices and shopping directly on our mobiles.
Consumers want their online shopping experience to be quick and easy. This means everything from your website, customer service, checkout process and payment apps need to be mobile-friendly in order to stay in the game.
If you don’t have capacity to ship orders, there are certain digital experiences that consumers are getting used to, like BOPIS (Buy Online, Pickup in Store). So you can still use your digital presence to drive sales in store!
The ‘buy now, pay later’ enthusiast
Australians are moving away from traditional credit methods and embracing the Buy Now, Pay Later (BNPL) options such as ZipPay and AfterPay. Cash-strapped consumers get their purchases instantly, with the full amount paid off in regular, interest-free instalments within a couple of months.
Nielsen research shows 91% of Australians are familiar with these payment methods and the Global Payments Report from WorldPay predicts regular users will pass 4 million by 2023.
For retailers, buy now, pay later platforms provide the opportunity to benefit from more immediate sales — both online and instore. Specifically, it increases the chances of growing a customer base, and it incentivises customers to spend more than they initially intended.
The value-driven buyer
According to research by Deloitte, “today’s consumer has a new set of value drivers, one that is more intrinsically linked to their core values and beliefs. Traditional drivers such as price, taste and convenience remain important in their buying decisions, but new evolving drivers such as social impact, health and wellness, safety and experience have emerged to the forefront. More than half of consumers weigh these evolving value drivers more heavily than traditional ones and 63% are willing to pay more for products where social impact values are demonstrated.”
In addition, a recent Consumer Index Report by Suzy Consumer Insights shared that 65% of consumers are more likely to support a brand that cares about the same social issues they do. Making it clear that for the majority of Australians, transparency regarding sustainability, ethics and supported social causes is now an essential part of building consumer trust and loyalty.
Stay ahead of changing consumer behaviours with top-selling natural health and beauty products from Unique Health Products. You can shop from our online store 24/7 or by calling our friendly sales team on 1800 787 904. If you don’t have a wholesale account with us yet, you can register for one here.