Has The Gloss Gone From New Zealand’s Biggest Sale Day? PriceSpy Insights Suggest Perhaps So

24 December 2021

• Boxing Day has historically been the biggest shopping day of the retail calendar year in New Zealand;
• But things are changing - a new survey* conducted on behalf of PriceSpy found the number of people that shopped on Boxing Day last year dropped – down six per cent compared to 2020 responses and 10 per cent compared to 2019;
• With popularity for other pre-Christmas sale events rising, such as Black Friday, Black Week and Cyber Monday, are people buying earlier instead of post-Christmas? Popularity insights from PriceSpy reveal Black Friday and Black Week now almost equals that of Boxing Day;
• Even though fewer may shop on Boxing Day this year, there is some good news for retailers – of those that shopped on Boxing Day last year, the average amount spent was $1203.30, up 38 per cent compared to the year prior;
• After months of lockdown for some New Zealand retailers, how will this year’s Boxing Day deals stack up?
• Based on PriceSpy’s historical pricing insights from Boxing Day last year, Kiwis may be pleasantly surprised by the discounts:
  • Almost half (46 per cent) of all products listed on PriceSpy dropped in price on Boxing Day 2020;
  • Just over a fifth (21 per cent) of all items received a price drop of 10 per cent or more, providing a decent average saving of -21 per cent;
  • But before shoppers hit the malls, PriceSpy is warning Kiwis to be on the lookout for price hikes – the research also found almost one-in-five (18 per cent) products listed on the site received a price increase on Boxing Day last year.

According to new insights released from PriceSpy, the fully impartial price and product comparison site, popularity for New Zealand’s biggest sale shopping day may be starting to wane.

Results from a recent consumer omnibus survey conducted on behalf of PriceSpy found just over a third (36 per cent) of Kiwis said they shopped on Boxing Day last year, down six per cent in comparison to 2020’s responses (at 42 per cent) and dropping 10 per cent compared to 2019.

Even though Boxing Day has traditionally been the country’s biggest shopping day in the retail calendar year, consumer purchase interest data from PriceSpy showed that Boxing Day was now almost on par with that of Black Friday (2020).

Whereas previously, Boxing Day ranked higher on the popularity scale. So, has the nation’s most-favoured shopping day had its day – and is it still worth shoppers taking part?

Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy, says: “Boxing Day has been the largest of the big flash shopping days in New Zealand for many years but recently we’ve seen a bit of a shift in consumer shopping behaviours.

“With popularity for Black Friday and Black Week on the rise, people are increasingly looking to buy items at discounted prices pre-Christmas, rather than waiting until after Christmas Day.

“For the first time ever, this year Black Friday may actually beat Boxing Day on the popularity scale, as people may instead choose to reconnect with friends and family after long lockdowns rather than hit the shops.“

People are spending more Boxing Day

Even though Boxing Day may not be as popular as it once was, there is still some good news for retailers, as according to PriceSpy’s survey, the amount people are spending on Boxing Day is increasing.

• Two thirds (66 per cent) of survey respondents said they spent $300.01 or more on Boxing Day last year;
• And the average amount splashed out was $1203.30, up almost two fifths (38 per cent) compared to the year prior (at $871.60).

“After a tough and challenging year, retailers will undoubtedly be pleased to hear the amount shoppers are spending on Boxing Day is significantly up, says Liisa.

“This rise in spending may be driven by the ongoing factor of long lockdowns, as people have been unable to buy normally - and some may have also saved money across the year as a result of not going out as much as what they normally would. With many Kiwis spending months in lockdown again this year, people may be set to spend even more this year.”

Boxing Day may offer the best discounts but PriceSpy is warning shoppers to watch out for price hikes

For those looking to shop in the Boxing Day sales, historical pricing data from PriceSpy suggests shoppers may be in for some great post-Christmas deals.

• Almost half (46 per cent) of all products listed on the price comparison site dropped in price on Boxing Day 2020;
• And just over a fifth (21 per cent) of all items listed on PriceSpy received a price drop of 10 per cent or more last Boxing Day, providing a decent average saving of -21 per cent;
• However, almost just as many goods were found to have been subjected to a price hike (at 18 per cent), so shoppers do need to watch out!***

Liisa concludes: “Especially after Christmas, flash sales days like Boxing Day can offer a great time for people to purchase items they really need at better prices. In fact, our price change insights** reveal that Boxing Day offered better deals than Black Friday last year.

Most popular doesn’t mean cheaper!

“Shoppers should also remember that popular products don’t always offer good discounts on big sales days. For example, when we look at the historical pricing insights across the five most-popular items people were looking to buy on Boxing Day last year, just one product was cheapest to buy on Boxing Day – but only by $1.

“No matter what day of the year you choose to shop, the key thing to remember is: Don’t rush buy – do research first. If you’re looking to make a purchase, don’t assume big sales days necessarily offer the best discounts - keep a close eye on prices and check out the competition to make sure what you are paying is the lowest price on the market.

“As well as shopping around for the cheapest place to buy, people should also check out how much an item has been sold for historically using a price comparison app, like PriceSpy. That way, they can see if the price has been hiked at the time the sale is running or if now is actually a good time to buy.”

Keep up to date with all the Boxing Day offers, here.

www.pricespy.co.nz

*Survey

• The PriceSpy consumer omnibus survey in 2021 was conducted by 3Gem, in October 2020, on 500 New Zealand respondents.
• The PriceSpy consumer omnibus survey in 2020 was conducted by 3Gem, in October 2020, on 500 New Zealand respondents.
• The PriceSpy consumer omnibus survey in 2019 was conducted by Savanta, in October 2019, on 506 New Zealand respondents. The PriceSpy consumer omnibus survey in 2018 was conducted by VIGA (now Savanta), on 30 October 2018, on 527 New Zealand respondents.

*** Data compares 26 December 2020 to 1 November 2020

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