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Bargain Hunting Kiwi Shoppers Hit the Web

Published: Mon 26 Sep 2011 11:01 AM
Bargain Hunting Kiwi Shoppers Hit the Web
According to the 2011 Visa Savvy Shopper Survey[1] the boundaries between eCommerce websites and retail outlets are blurring, with 95 percent of Kiwi shoppers using a mix of both online and in-store information to nab the best deal.
On top of that, a massive 86 percent of New Zealand shoppers are now turning to online shopping before heading to traditional shopping malls and stores.
Sean Preston, Visa's New Zealand Country Manager, is not surprised that Kiwis are being tempted to shop online rather than in-store. The research highlighted changing financial circumstances, including the favourable exchange rate and availability of credit and debit card payment options, as motivation for New Zealanders to adapt their buying behaviour.
"Price checking in-store before buying online is an on-going trend that is likely to continue, particularly as consumers use the power of the web to make their money go further. The lines between high-street and eCommerce are becoming increasingly blurred, with growing numbers of global and domestic brands now boasting online storefronts. The strength of the Kiwi dollar is also driving more consumers online."
Convenience is another factor attracting New Zealanders to online stores, 85 percent enjoy shopping from the comfort of their own home and 54 percent appreciate the lack of queues in cyberspace.
Credit and debit cards dominate when it comes to paying online with Visa credit card being the most popular (39 percent), followed by Visa debit card (27 percent). A big driver behind the popularity of a debit card is the ability for customers to use it online, over the phone and overseas. This year, 69 percent of debit cardholders cited online shopping as the reason for choosing a debit card.
"Visa debit cards present shoppers with the convenience and acceptance they associate with their Visa credit card, as well as giving them the ability to pay for goods using their own money. The Visa debit card is linked to the cardholder's bank account and accesses available funds directly," adds Mr Preston.
When it comes to online shopping habits, the majority of New Zealanders use the internet to search for 'want' items. The most sought after products online are entertainment/recreational related, followed by clothes, shoes and accessories. TradeMe is still the most popular store with 70 percent of online shoppers indicating it as their favourite. International retailer Amazon is a distant second with only 19 percent of shoppers singling it out. Most New Zealanders (76 percent) would like all retailers to provide the option of buying online.
These findings come from a nationwide survey of consumer spending patterns designed to examine new trends, views and behaviours in relation to payment preference, online shopping and overseas shopping.
Additional findings include:
* The most popular online purchases are entertainment/recreational items (19 percent), clothes, shoes and accessories (16 percent), travel/holidays (13 percent), household items (11 percent) and electronics (10 percent)
* The majority of shoppers use the internet to buy want items (79 percent)
* The majority of online shopping is done during the week (75 percent) with work day evenings being the most popular (38 percent).
ENDS

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