Online shopping has firmly established its place in the ANZ retail landscape, with 77% of NZ shoppers shopping online every month. The data, which comes from the Australian and New Zealand ecommerce Report 2024 by IAB Australia and Pureprofile, also found that value seeking is top of mind, with an increase in the number of shoppers prioritising lower prices and discounts and 62% switching products and brands to find cheaper alternatives.
According to the report, consumers are using an increasing range of price and product discovery options to find the best value and range of offerings. While search engines remain the most used method, 38% are using price comparison sites and services, and 20% using major shopping events to look for discounts as well as for product discovery. 58% of shoppers aged 18-29 note that influencers and social media impact their research and shopping habits.
Convenience remains the number one reason for purchasing online (68%), with time poor 18-49s prepared to pay more for convenience. However, shopper loyalty and rewards programs were identified as being increasingly important with 92% of online shoppers enrolled in at least one such program and 95% of online shoppers willing to share some data with retailers in return for benefits such as discounts, coupons, free delivery, rewards points and cash back.
More than 80% of online shoppers understand that their data is used for targeting advertising, marketing and personalisation, however, 71% of online shoppers are increasingly concerned with how retailers use their shopper data (up from 59% in 2023).
Martin Filz, CEO of Pureprofile commented, “In a quest for savings, consumers are prioritising the best deals and frequently switching brands to secure better price. While budgets are tighter, retailers still have a great opportunity to capture attention with most consumers still engaging with some form of retailer marketing.”
Key learnings for retailers
The Australian and New Zealand Ecommerce Report 2024 is based on research conducted with 1,000 Australian and 1,000 New Zealand online shoppers during July 2024. It examines the consumer attitudes, behaviours and influences driving ecommerce. This is the fourth annual Ecommerce Report for the Australian market and the first year a survey amongst New Zealand online shoppers has been conducted.
If you're an IAB New Zealand Member click here to gain access to the downloadable report and Pureprofile report infographics
For further information or to become an IAB New Zealand Member, please get in touch.