Monash University's Australian Consumer and Retail Studies' Pulse Survey in April 2023 found that Australians are changing more than just how much they spend.
The survey is conducted to gauge Australian consumers' cost-of-living sentiment, and
how their purchasing habits have changed since the same time last year.
The report's lead author Dr Eloise Zoppos, Research & Engagement Director of the ACRS research unit, in Monash Business School's Department of Marketing, said Australian shoppers are continuing to become more conscious of what they're buying, with 35 per cent shopping for products that are locally produced more than they did at the same time last year, and 30 per cent shopping more for environmentally friendly products.
"Coming out of 'Australian Made Week', it's heartening to see more Australian shoppers wanting to shop for products that are locally produced. It's a finding that we've been seeing in our research for several years, and one that really started to emerge strongly during the pandemic as Australians became more conscious of their broader shopping habits," said Dr Zoppos.
The survey results indicated that when it comes to apparel such as clothing, footwear and accessories, Australian shoppers are evenly split with 27 per cent reporting that their spend is more, and 29 per cent reporting that their spend is less than at the same time last year.
"Our research shows that sustainability continues to be important for many Australians. It's clear that sustainability is not just a trend, and Aussies are rejecting a throwaway culture and are really becoming mindful of their purchase habits."
Consumers were also asked what else had changed in their retail habits compared to the same time last year and unsurprisingly, many Aussies seem to be more price-driven
than ever before.
Almost half of Australians surveyed (47 per cent) reported that they shop for lower-priced brands more now than they did at the same time last year, indicating that many Aussies are
revisiting their usual spending habits.
"Cost of living increases are top of mind for all Australians right now. Our research shows that Aussies are becoming more and more mindful of what they're spending and are becoming more price-driven than they were at the same time last year. Some are shopping for lower priced brands or alternatives more than they did in 2022, while others are holding off until a sale, and some are even deferring a purchase indefinitely."
