eBay Australia has reported an increase in end-of-financial year (EOFY) spending per consumer since 2021.
According to research conducted by the online marketplace, 30% of respondents surveyed spent $500 or more in 2021. This increased to 35% the following year, with one in five expected to increase their spending further in 2023.
eBay reported that over 45% of Australians waited for sales periods to buy non-essential items, while over 55% spent half or more of their EOFY budget on the things that “bring them joy."
In the past 12 months, Australians have become more disciplined in managing finances, with three in five (60%) surveyed budgeting more carefully due to cost of living pressures.
Finding a balance between spending on passions and financial obligations was key for almost half of Aussie respondents (45%). However, one in five respondents rated spending on passions a higher priority with travel, wellness, beauty, self-care, home upgrades and cooking top categories.
eBay reported that 30% of respondents were keen to invest in travel with eye masks, suitcases and travel pillows some of the top searched travel items in June 2022. 30% are also committed to physical and mental wellbeing, while over 20% are keen to buy beauty and self-care products this EOFY.