Changing Shopping Habits

Changing shopping habits

The Australian Centre for Retail Studies has released its latest report, 'Australian Consumer Climate Study,' which provides valuable insights into future spending intentions of Australians, particularly surrounding the upcoming stimulus package.
"Customers are adjusting their lifestyles and shopping habits to accommodate the financial downturn, and there are expectations of a large increase in the number of people that will be unemployed in the coming 12 months," ACRS Research Fellow, Sean Sands, says.
Key findings of the study which surveyed 1010 consumers in all states across metro and regional areas, include:

- Almost 80 per cent of those sampled report having changed their shopping habits as a result of financial pressures.
- Consumers appear to be cutting out more expensive items (70 per cent) and reducing their spend overall (65 per cent).
- There is a reported move toward private label brands among consumers (57 per cent).
- However, 69 per cent of respondents expect the financial position of their household to get better or remain the same over the next 12 months.
- The survey also found that in terms of retail trade, shopping for household items was highest followed by personal items.