Research Finds Buying Christmas Gifts Last-minute Could Deliver The Best Price, But Are Shoppers Prepared To Wait?

A new PriceSpy survey* reveals how Christmas shopping behaviours have changed as a result of Covid-19 continuing to impact the wider world:

Kiwi shoppers appear to have ditched their tendency to shop last-minute to buy gifts and instead are opting to be prepared:

o 44 per cent of respondents say they will start their Christmas shopping earlier this year as a result of Covid-19 impacting delivery times;

o More than one in four Kiwis (27 per cent) say they will shop up to six months ahead of Christmas, highlighting a significant 20 per cent increase compared to pre-Covid times (2021 vs 2019)*;

On the other side of the scale, almost one in five New Zealanders (18 per cent) say they tend to leave their gift buying to the eleventh hour and shop up to a week before Christmas Day;

With courier and delivery services impacting delivery time frames, will those that shop last-minute receive their goods in time for Christmas?

And when is the best time for shoppers to make a purchase from a price perspective? According to PriceSpy’s Price Index, buying last-minute may deliver the best deals – with the biggest price drops taking place in the last few days leading up to Christmas Day;

Finally, good news is in-store for Kiwi retailers - over two fifths of the survey respondents (43 per cent) say they will buy gifts locally from New Zealand owned and operated businesses.

With the festive season upon us, a new survey commissioned on behalf of PriceSpy, the fully impartial price and product comparison site, reveals just how much Christmas shopping habits in New Zealand continue to change as a result of Covid-19.

The PriceSpy survey found Kiwis are planning ahead this year with their festive purchases. What’s more, shoppers are also looking to buy local - over two fifths of respondents (43 per cent) say they will buy from New Zealand owned and operated businesses. One in five (19 per cent) however say they will be guided by how much things cost and will buy from any store that offers the best price - even if it means buying internationally.

Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy, says: “It wasn’t too long ago we reported a huge trend in the number of people looking to buy air fryers as a result of people being in lockdown and wanting to make quick, easy and tasty food.

“A few months on and even though New Zealand is no longer locked down, our survey findings continue to reflect the ongoing changes that are happening around us – not only in what consumers are looking to buy but when they are wanting to shop for big events, like Christmas.”

Traditionally, PriceSpy’s survey results have shown Kiwis love the thrill of buying Christmas gifts last-minute.

Across the last few years, PriceSpy survey respondents said they tend to do most of their Christmas shopping last-minute, up to a week before Christmas Day (29 per cent in 2019 and 28 per cent in 2020).

Liisa continues: “This year the survey results are very different. We have seen a significant shift in when people will buy gifts for the festive season with people now saying they tend to do most of their shopping up to six months in advance, highlighting a significant 20 per cent increase compared to pre-Covid times.”

“Shoppers, it seems, are aware of the wider impacts that the global pandemic is causing,” says Liisa. “From manufacturing and supply chain issues, price increases, distribution delays and increased consumer demand. So, what people ‘want’ this Christmas may not necessarily be available.

“To help accommodate the wider issues impacting the retail sector, shoppers appear to be looking to purchase earlier, to offer them the best chance of being able to buy what’s on their Christmas wish lists.”

But being prepared and buying early may not deliver the best price…

Whilst buying early may help increase the chances of shoppers being able to purchase what they want, according to PriceSpy’s Price Index, a tool that tracks the daily price changes that occur across the most-popular products listed on the website, buying last-minute can provide shoppers the best opportunity of securing a bargain.

Liisa concludes: “This is an expensive time of year and even though shopping last-minute may not be everyone’s cup of tea, says Liisa. “Our pricing data indicates buying last-minute especially across the last few days leading up to Christmas Day could deliver the best prices, alleviating some of the financial pressures some will be feeling across the festive season.

“For those looking to hit the shops last-minute, one thing to be aware of - especially if purchasing online, is whether the gift purchased will be received in time for Christmas Day, as courier and postal services are extremely busy at this time of year.

“If timing is not a factor for when the gift purchase is received, people are on a budget or simply don’t want to pay full price, buying last-minute could offer a great option to help save money at an otherwise expensive time. In fact, our survey findings found three fifths (61 per cent) of Kiwis say they have waited to purchase an item in the Boxing Day sale just so it’s cheaper.”

“No matter what people are looking to buy for Christmas (or when for that matter), we strongly suggest people do not panic buy and always carry out important price research. Using an app or website like PriceSpy can help shoppers make better, more-informed purchase decisions . It’s quick, free and easy to do and can help saves lots of money in the long run.”

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.

** PriceSpy’s Price Index is a daily updated chain index that tracks price changes across all categories, brands and markets over time. Products are weighted by popularity, determined by the number of clicks-outs received and the number of stores offering the product. The index works much like a stock index, where daily price changes are used to calculate the accumulated index, and where company size corresponds to product popularity. Old products will gracefully disappear and new products enter the index. The index shows the relative price change of already existing products from the day before.

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