EOFY sales are on and Aussies are dropping billions on bargains

Aussie shoppers are getting in early and opening their wallets wide for this year’s end-of-financial-year (EOFY) sales, with a whopping $10.5 billion expected to be spent, according to new research from the Australian Retailers Association (ARA) and Roy Morgan.

That’s up nearly 4 per cent on last year. It seems many of us are keen to grab a bargain, claim a tax-time deduction or finally replace that slow-as-molasses laptop.

Fleur Brown, the ARA’s Chief Industry Affairs Officer, says it’s prime time to pounce on discounts. Brown says this is especially true if you’re a small business owner looking to fit out your workspace or stock up on winter essentials.

“The sales have already begun. Retailers have reduced prices on a wide selection of clothes, shoes, accessories, homewares, furniture and electronics, and it’s a terrific opportunity for shoppers to find great deals for winter,” Brown explains.

And yes, it’s not just jumpers and toasters flying off the shelves, tech is in high demand too.

“Many savvy shoppers are on the lookout for work-related products to claim on their tax return. This is making computers, phones, and other technology highly sought after,” Brown says.

What’s hot this EOFY?

According to ARA’s research, the top picks for Aussie spenders this EOFY are:

Clothing, footwear and accessories (34 per cent)

Household appliances and white goods (19 per cent)

Electronics and tech (12 per cent)

So if you’re eyeing a new fridge or planning to finally upgrade your phone, you’re not alone.

Bigger spends, tighter wallets

Despite tighter household budgets, many Australians are leaning into sales season and spending up. On average, EOFY shoppers will spend $1,714 – up $76 on last year. And shoppers under 35 are leading the charge, dropping an average of $2,065 each, totalling a massive $4.3 billion across the board.

Men are also expected to outspend women, with an average of $2,044 compared to $1,430.

What’s even more interesting? Fewer people are clicking “add to cart” from their couches this year. Online shopping is down 11 percentage points, with more of us opting to head in-store to hunt down those bigger-ticket bargains.

“Given market volatility and persisting headwinds, these sales present an opportunity for retailers to stimulate growth as they begin to recover from the protracted spending downturn,” Brown says.

“Household budgets have been under significant strain and the mid-year/EOFY sales are a great opportunity for shoppers to get great value for money.”

Is EOFY good for business?

EOFY sales are a golden opportunity for bargain hunters, but the research suggests they’re also critical for small retailers looking to turn over inventory, drive foot traffic and ride out the dip in discretionary spending.

With 6.1 million Aussies planning to take part in this year’s sales, it’s a great time for small businesses to bundle tax-time offers with relevant products (think: tech, tools, office gear). And if you have a brick-and-mortar store, you could also consider promoting in-store experiences or exclusive deals to capture foot traffic. With Aussies ready to spend, it makes sense to put an EOFY strategy in place.

 You’ll need to act fast, though, EOFY deals are already rolling out, and Aussie shoppers are on the hunt for bargains.

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