More than half of Australians say online sales can help them manage cost of living pressures
- Written by Bonnie Brady, Consumer Shopping Expert at PayPal Australia
Here are some tips for smart and safe sales shopping
As the cost-of-living crisis continues, it’s clear Australians are eager to save money whenever and wherever they can, looking to online sales events to help reduce spending. While sales can be a great way to save money on things you need or already intend to buy, it’s important to plan purchases and set budgets to avoid impulse buys and overspending.
New PayPal research shows two-in-five (38%) Australians are planning to shop the End of Financial Year (EOFY) sales, but not for the traditional tax-deductible work expenses.1 Interestingly, more than half (51%) of those Aussies plan to buy clothing or fashion , with only one-in-ten (12%) looking for tax-deductible discount items.
The current economic climate appears to be encouraging this bargain hunting behaviour, as more than half (52%) of Aussies say online sales can help them manage the current cost-of-living pressures.
However, sales periods also result in an uplift in scams, and shoppers are being lured to fake retail sites , or fraudsters selling fake products. These and other scams have led to almost all Australians (93%)1 being concerned about online security, with two-in-five (40%) more concerned than they were a year ago.
Below are some top tips for smart and safe online sales shopping:
1. Compare prices in real time:
It’s good practice to compare product prices between different retailers on the day of your planned purchase, as things can change quickly. Simply search online for the product name and style number to find a list of online stores selling the same product. Alternatively, consider using an online deal finder like PayPal Honey to do the heavy lifting and automatically apply any discount codes it may find at checkout.
2. Scrutinise suspicious sites:
Fake versions of online retail websites can look very similar to the real thing. If you spot images that don’t resize properly, or anything that doesn’t look right, check the URL, navigate to the genuine site separately, and if in doubt, don’t check out.
3. Check reviews:
If other shoppers have had negative experiences with a specific online seller, including fraud, they may have posted about it online to warn others.
4. Understand returns options:
Make sure there’s a way out if the purchase isn’t 100% right and shop with retailers that offer a reasonable returns policy.
5. Keep your financial details safe:
Using a secure payment method like PayPal can help protect personal and financial information from potential fraud.
Unfortunately, this vigilance against potential scams is disrupting legitimate activity, as 87% of Australians avoid phone calls from unknown numbers for fear of being scammed, and 15% have missed a genuine payment because they assumed it was scam.
By following these tips, Australian shoppers can stand a better chance of snagging savings, while avoiding scams.
- 1. The 2024 EOFY Sales research was produced by PayPal Australia, based on an online study conducted by PureProfile with n=1000 sample size. The consumer research consisted of a sample audience of Australians aged 18-75, and was weighted by age, gender and location to ensure data was nationally representative. Quotas and samples were set on turnover and location. The research was fielded from 5 April to 10 April 2024.
