Australia Post Trends - Find Your Winning Strategy
From the Retail Therapy Stage of the latest Reed Gift Fairs Melbourne, attendees were treated to an insightful session by Sam Coates, Account Manager from Australia Post, exploring the key trends and insights shaping the current retail landscape. His presentation, titled "Australia Post Trends - Find Your Winning Strategy," offered valuable insights for retailers and wholesalers.
2022 Review & Trends
Sam's session commenced with a review of the retail landscape in 2022, highlighting a remarkable 9.2% year-on-year growth in retail spend, from $324 billion to $353 billion. The online share of retail spends also saw significant growth, reaching 18.1%. This growth was reflected in the $63.8 billion spent on online goods, representing a 1.7% year-on-year increase.
Online Customer Profiles
The session delved into the various online customer profiles, shedding light on the shopping behaviours of Australian households. It highlighted four key shopper segments:
1. Sometime Shopper - Accounting for 30% of online shoppers and 4% of total volume, this segment comprises mostly males aged 55–74+ residing in regional Australia.
2. Selective Shopper - Making up 26% of online shoppers and 14% of total volume, this segment includes mostly males aged 45–74 living in metro and regional Australia.
3. Savvy Shopper - Representing 28% of online shoppers and 32% of total volume, this segment consists of females aged 25-54 with moderately high incomes.
4. Super Shopper - Comprising 16% of online shoppers and 50% of total volume, this segment includes females aged 18-44, many with families and high incomes, who are active shoppers, purchasing from an average of 40 retailers annually.
Category Trends
The session highlighted the strong performance of the Home & Garden and Fashion & Apparel categories, with 6.6 million households purchasing from Home & Garden online in 2022 and 6.2 million households purchasing from Fashion & Apparel online. These numbers represent almost 70% and more than 66% of households that shopped online in Australia, respectively.
What Does the Future Look Like?
Looking ahead, the session shared insights into the future of eCommerce, noting that 56% of online shoppers are willing to choose delayed delivery to reduce environmental impact. Additionally, 3 in 4 people are actively seeking sustainable options when shopping, indicating a growing trend towards sustainability in consumer behaviour.
Retail Growth Forecast
The session concluded with a forecast for retail growth, expecting a return to historical growth trends of around 3% per year. It also highlighted the continued growth of online shopping, with over 1 million more households shopping online compared to 2019. By 2033, it is projected that around 1 in 3 dollars will be spent online, underscoring the importance of eCommerce in the future retail landscape.
The insights from Sam Coates' session provide valuable guidance for retailers and wholesalers. Understanding these trends and customer profiles can help businesses develop winning strategies to engage customers in the ever-evolving retail landscape.
Keen to learn more? Join us at Reed Gift Fairs Melbourne (3 – 6 August 2024) and drop by the free-to-attend Retail Therapy Seminar for practical tips and strategies to elevate your business.
