In the dynamic landscape of Australian retail, understanding the intricacies of consumer behavior during the Christmas shopping season is paramount for brands and retailers.
The 8th edition of the CPM-Retail Safari annual Christmas Shopping Intentions Survey, conducted in partnership with Swinburne University’s CXI Research Group has unveiled crucial insights into what’s shaping the 2023 holiday trading season, shedding light on the unique challenges and opportunities it presents.
This year’s edition builds on data collected in our annual surveys since 2016. We compare the survey results to historical data and trends, where we explore the shopping behaviours, attitudes, and preferences of Australian consumers for the 2023 holiday season.
The Christmas report presents key insights into the upcoming holiday shopping landscape. Topics covered by our report include:
- Shopper Behaviour Trends: Guide your holiday season sales strategies using our exploration of how consumer attitudes and shopping preferences are evolving.
- Spending Sentiment: Understand the impact of inflation and interest rates on Christmas spending, enabling your business to tailor effective sales strategies.
- Black Friday and Cyber Monday: Get a sneak peek into the upcoming holiday season’s shopping trends for these major events.
Some key findings of the 2023 Christmas Shopping Intentions research include:
Key takeaways for your 2023 Christmas strategy
- Aussies continue to get in early for their Christmas gifts: Gift buyers are getting ahead of the game for their Christmas shopping, with 70% of shoppers doing most of their gift buying before December. With November being the biggest month for Christmas season sales, retailers and brands can’t focus solely on the traditional holiday sales period anymore.
- Cyber weekend continues to steal Boxing Day’s thunder: Over 70% of consumers stated that cost-of-living rises will impact their holiday spending plans. Expect many shoppers to leverage savings during the Cyber weekend sales events.
- It’s an omnichannel Christmas: As consumers continue to blend online and in-store shopping, enhance the advantages of omnichannel shopping by offering specialised Product Advisors to advise and recommend products, supporting both in-store and online.
In conclusion, the 2023 Australian Christmas shopping season presents both challenges and opportunities for retailers and brands. This year’s holiday season will likely be defined by the continued impact of inflation and interest rates on the Australian economy, and a shift in consumer priorities as consumers find ways to navigate the rising cost of living and keep the holidays festive.
By staying attuned to consumer sentiments, embracing omnichannel strategies, and optimising Black Friday and Cyber Monday initiatives, business leaders can position themselves for success in this dynamic retail landscape.
For more 2023 holiday shopping season’s insights and trends, download the full report here.