New trend! Australian/New Zealand consumers plan to prioritize buying essential items

Recently, BigCommerce released its latest Australia/New Zealand (ANZ) e-commerce status report, which revealed the current changes in online consumption tendencies and shopping behaviors of consumers in these two major markets, namely that consumers plan to reduce spending and prioritize purchasing necessities.

Shannon Ingrey, vice president and general manager of BigCommerce Asia Pacific , said that the epidemic has pushed shoppers from offline to online , and the increasing perfection of the online market has diversified consumer behavior, and consumers are looking for higher quality or lower-priced goods. At such a stage, sellers need to understand consumers better and improve their service quality , such as website speed and fast delivery time.

The report shows that the usage of BNPL ( buy now, pay later ) in Australia and New Zealand has remained stable, with nearly a third of shoppers ( 32%) saying they had used BNPL to pay in the past six months, compared to 35% in 2021 .

30% of respondents plan to spend less on BNPL in the future , with the majority (68%) saying they will do so to save money for essentials . 11% of respondents said they will spend more on BNPL products, but the vast majority ( 72%) would prefer to use BNPL rather than credit or debit cards.

Credit cards account for 39% of the last payment made, up from 26% in 2021. Debit cards are also gaining popularity as a payment method, increasing from 21% in 2021 to 23% in 2022 .

Website speed and transparency into shipping costs also emerged as two key factors for ANZ shoppers in deciding where to buy.

The survey results on the reasons for giving up consumption showed that 58% of the respondents gave it because of high shipping costs ; 51% of the respondents gave it because of Internet speed problems ( 24% very likely, 27% possible); and 41% of the respondents gave it because of slow delivery (27% very likely, 14% possible).

Additionally, more than three-quarters of respondents said they would leave a site and buy elsewhere if it was too slow.

In addition to prioritizing the consumer experience during the shopping process , retailers are also beginning to pay attention to after-sales service and consumer repurchase rate, that is, buyers' loyalty to the brand . Data shows that retailers that cultivate rewards and loyalty programs are more likely to gain repeat customers after 2022 .

40% of respondents said they choose a retailer because of a loyalty program , and 69% said they have applied for rewards through a loyalty program in the past three months. For 77% of respondents, free shipping is the top loyalty program benefit .

Understanding consumers’ thoughts and changes in shopping behavior is the key to sellers’ strategic decision-making . Meeting consumer expectations and improving the online shopping experience can give sellers an advantage in the competition .

Australia and New Zealand

Fast Moving Consumer Goods

Repeat purchase