PriceSpy Research Reveals How Shopping Behaviours Have Changed This Christmas
- According to a new survey* from PriceSpy, almost 50 per cent of Kiwis are looking to shop locally this Christmas in light of Covid-19;
- The research also found consumers are changing their shopping habits, with one in seven (14 per cent) getting super-organised saying they will shop up to six months ahead of Christmas (up 13 per cent on 2019);
- One in four (26 per cent) however still say they will shop last-minute;
- Pricing research from PriceSpy suggests normally shopping last-minute can offer great savings – but this year is different;
- Will the late shopping tactic pay-off this festive season, or will shoppers be disappointed by a lack of price reductions?
According to a new consumer omnibus survey conducted on behalf of the fully impartial price and product comparison site, PriceSpy, things may be looking up for New Zealand retailers, with findings suggesting Kiwis are looking to support local this festive season.
The PriceSpy survey found in light of Covid-19, almost half of the respondents (46 per cent) say they will buy gifts locally from New Zealand owned and operated businesses. One in four (26 per cent) on the other hand, will be guided by how much things cost, saying they will buy from any store that offers the best price - even if it means buying internationally.
The PriceSpy research also revealed how shopping habits had changed this year ahead of Christmas:
- One in seven respondents (14 per cent) say they tend to do most of their shopping up to six months in advance of Christmas, up 13 per cent year-on-year;
- Almost 30 per cent (28 per cent) however still prefer the thrill of shopping at the eleventh hour, saying they will shop last-minute up to a week before Christmas Day;
- Interestingly, 15 per cent of the respondents admitted to shopping online for the first time this year as a result of Covid-19. And amongst these first-time shoppers, the most popular shopping categories, were: food and groceries (44%); fashion (38%); gadgets & electronics (36%) and home & garden items (23%).
Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy, says: "We've certainly noticed a big change in how consumers are shopping, as it wasn't too long ago that bread makers, chest freezers and sewing machineswere amongst the top-trending shopping categories on PriceSpy, which is extremely unusual.
"As Christmas fast approaches, it's great that Kiwis are choosing to shop locally this year and support local retailers as there's no doubt, it's been a difficult and challenging time for businesses and retailers.
"But with New Zealand officially in a recession and one in four saying they will shop from any store that offers the best price, even if it means buying internationally, the price of goods will remain an important factor to many."
Using a price and product comparison site like PriceSpy can help shoppers monitor the price of goods before they buy, to ensure they aren't paying overinflated prices or buying from a shop that is charging more than its competitor.
Liisa continues: "Interestingly, we also saw a big jump in early Christmas shoppers this year, with
14 per cent saying they tend to do their Christmas shopping up to six months ahead of time, up 13 per cent up on 2019.
"We believe this shift in getting more organised for Christmas is a direct result of Covid-19, as many won't want to miss out on the normal festive festivities should New Zealand enter another lockdown situation whereby stores close, products go out of stock etc. Buying early helps reduce this risk, so people can have a bit more 'normality'.
"Almost 30 per cent (28 per cent) however still seem happy to shop last-minute. According to our historical pricing data, this shopping tactic can often offer shoppers a good chance of securing last-minute pre-Christmas bargains, as price points of goods will often drop the closer we get towards Christmas Day."
Liisa concludes: "But we need to remember this is no ordinary year - and retailers are still massively affected by the impacts caused by Covid-19, which could affect both Christmas stock availability and price points.
“For those that haven’t yet started their Christmas shopping, the key thing to remember is to not panic buy. Instead, we encourage shoppers to use a price and product comparison site like PriceSpy. Not only is it quick, free and easy-to-use, consumers can check stock availability to make sure products are available.
“What’s more, by checking the price history on products, shoppers can feel rest assured they aren’t paying over-inflated price points – and are buying from a retailer that is offering the best deal.”