COVID-19 online shopping report: Australians to inject $167 billion into economy

• • • • 17 million Australians are shopping online
      • Men spend more than women
      • How to save when shopping online

28 September 2020, Sydney, Australia – The pandemic has pushed Australians to spend more online, a new report by Finder, Australia's most visited comparison site reveals.

Finder's COVID-19 online shopping report shows that 88% of respondents – equivalent to 17 million Australians – are purchasing online.

The research also found Aussies spend 5.3 hours per week – the equivalent of 36 working days a year – shopping online.

Bessie Hassan, money expert at Finder, said online shopping had seen a dramatic rise especially over the last six months as a reaction to COVID-19 lockdowns.

"Many Aussies cooped up inside for weeks on end would've turned to online shopping to alleviate the boredom.

"Online shopping is giving Australians more to choose from at increasingly competitive prices so we could see this preference for ecommerce continue post-COVID-19."

The report shows that this shopping doesn't come cheap.

Aussies spend an average of $188 a week or $9,776 a year on online shopping – including online grocery shopping.

Extrapolated to the population of Australia this online shopping is injecting $167 billion into the Australian economy.

Hassan urges Aussies to be smarter with their spending during such a volatile time.

"While it might feel like things are returning to normal, we're yet to feel the worst of the economic fallout caused by the pandemic.

"Now is the time to get your finances in check. Only purchase what you need and always keep an eye out for deals."

Men (5.7 hours per week) confessed to spending more time than women (4.9 hours per week) shopping online.

The research also shows 1 in 10 Australians (10%) spend 6–10 hours a week shopping online.

1 in 8 Australians (13%) spend 11 hours or more per week shopping online.

"Many Aussies are spending a large part of their day in front of their home computer, giving them more opportunity to be tempted by deals and discounts from their favourite retailers."

Hassan advises Australians to start planning ahead for Christmas.

"We're entering an expensive time of year but with enough planning you can have a stress-free silly season.

"Start your Christmas shopping early. Make the most of sales season and score your presents at discount prices.

"There are just three months to go until Christmas, if you want to build up your festive fund it's time to act now. Put a little bit of money away each pay, that way you're not caught off guard when December comes around."

For the full report see here: https://www.finder.com.au/insights/finder-covid-19-online-shopping-report

How to save money when shopping online

• Make use of the first-time discount. Online stores will often offer a discount of 10% or 15% off for your first purchase. For example The Iconic has $20 off for first-time customers when they sign up to the newsletter.
• Wait for big sales. You should never buy something at full price. These days retailers are discounting products more and more frequently, so if you can hold out you'll save money. Black Friday is 27 November this year, so mark the date in your calendar and start planning your purchases early.
• Compare prices. Not all retailers will mark their prices the same. While you think you might have found a good deal, make sure you compare to see if you can't find it cheaper elsewhere.