Sydney, Australia – Shoppers in Australia and New Zealand are reported to spend less and be more selective in prioritising essentials during their online purchases, a report by BigCommerce, an open SaaS e-commerce platform.
According to the report, 30% of respondents also indicate they plan to decrease their BNPL spend, with 68% doing so to save money for essentials. Furthermore, 79% of shoppers would be likely or very likely to leave a website and purchase elsewhere if a website is too slow.
In addition, credit card as a proportion of last payments made has risen to 39% in 2022, up from 26% in 2020 and 2021. Debit cards have also become more popular as a payment method, increasing from 17% in 2020, to 21% in 2021 and now at 23% in 2022. The majority of purchases made after receiving a marketing prompt came from email (42.1% of respondents), while respondents who made a purchase after receiving an abandoned cart email have also doubled to 32% in 2022.
Shannon Ingrey, vice president and general manager, APAC at BigCommerce, said, “The beginning of the pandemic pushed shoppers online, and now they’re getting more selective with their spending to prioritise saving more. We’re at a point where retailers and merchants need to take an introspective look at their key services to address shopper pain points like website speed and fast delivery time.”
Meanwhile, 40% of respondents indicated they have chosen one retailer over another because of a loyalty program offering, with 69% saying they have used a loyalty program to claim a reward in the last three months. For 77% of respondents, free shipping is the number one preferred perk when it comes to these loyalty programs.
“It’s critical for retailers to ensure they have the right technology and infrastructure in place to prioritise fast, seamless experiences for shoppers. Understanding what consumers think and how they behave on a day-to-day basis will be key to the strategic decision-making of every merchant in 2022,” Ingrey concluded.