Boxing Day Revealed As NZ’s Biggest Shopping Day

• According to new consumer buying interest insights from PriceSpy, Boxing Day last year outperformed that of any other day in 2021 (including Black Friday);
• And findings from a recent consumer omnibus survey commissioned on behalf of PriceSpy found:
• Almost half (46 per cent) of the Kiwis surveyed shopped on Boxing Day last year (2021), presenting a year-on-year uptick of +10 per cent;
• Three fifths (60 per cent) of the Kiwis surveyed say they plan to shop on Christmas Eve/Boxing Day
• However, Black Friday may offer bigger discounts than Boxing Day:
• On Boxing Day last year (2021), PriceSpy’s Price Index fell -5.54 per cent. But for Black Friday 2021, it dropped to -5.62 per cent***.
• With consumers still facing the ongoing impacts caused by the cost-of-living crisis, will shoppers be tempted to spend this Boxing Day?
• Unsurprisingly, PriceSpy’s survey findings indicate almost three out of ten Kiwis (30 per cent) are not planning to purchase across any sales events over the next year.
• But will Boxing Day’s discounts be worthwhile? PriceSpy insights suggest so:
• Over two fifths (42 per cent) of all products listed on PriceSpy dropped in price on Boxing Day 2021**;
• And just over a fifth (21 per cent) of all items listed on PriceSpy received a price drop of 10 per cent or more, providing an attractive average saving of -21 per cent**;
• But PriceSpy encourages consumers to always conduct their own independent pricing research before buying, as many products are subjected to a price hike on Boxing Day:
• Almost a fifth (23 per cent) of all products listed on PriceSpy were subjected to receiving a price hike on Boxing Day last year (2021).

New insights released from PriceSpy, the fully impartial price and product comparison site, reveal Boxing Day to be New Zealand’s most-popular shopping day of the year.

Based on PriceSpy’s own consumer purchase interest data, Boxing Day last year (2021) outperformed that of any other day in the calendar year, including Black Friday.

Furthermore, results from a recent consumer omnibus survey commissioned on behalf of PriceSpy also found:

• Three fifths of the surveyed Kiwis (60 per cent) say they intend to shop on Christmas Eve/Boxing Day;
• And almost half (46 per cent) of the Kiwis surveyed said they shopped on Boxing Day last year, delivering a surprising year-on-year increase of +10 per cent.

Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy, says: “With so many major shopping events taking place across the final two months of the calendar year, consumers have no shortage of opportunities to save, with significant discounts being offered by retailers across flash sale events, such as Singles’ Day, Black Friday and Boxing Day.

“Interestingly, even though some of the newer sale events, like Black Friday and Singles’ Day have become increasingly popular in New Zealand, our insights continue to show that Kiwis still prefer to shop over the traditional shopping event held on Boxing Day.”

But not everyone will shop this year

As Kiwis continue to face the ongoing battle against the cost-of-living crisis, unsurprisingly, PriceSpy’s survey findings revealed that three out of ten Kiwis (30 per cent) do not plan to purchase across any sale events over the next year.

And when asked why they were not planning to purchase, almost a third again (32 per cent) answered ‘I can’t afford to’ and a fifth (21 per cent) said ‘I need to save money’.

But shoppers will still spend big

Even though not all Kiwis plan to purchase this Boxing Day, according to PriceSpy’s survey results, of the shoppers that purchased on Boxing Day last year, the average amount spent was a sizable $954.80.

“Our survey results revealed that one in four (25 per cent) respondents said they spent over $1000 on Boxing Day last year, and over a third (35 per cent) said they spent between $300.01 up to $1000.

“Based on these findings, we expect shoppers this year to also spend large sums of money across Boxing Day, as many will be looking to make the most of the savings being offered to purchase big-ticket items at an otherwise more expensive time, says Liisa.

But are the Boxing Day discounts worthwhile?

For those looking to shop and potentially make the most of the savings being offered by retailers amidst a cost-of-living crisis this Boxing Day, historical pricing data from PriceSpy suggests Kiwis may be in for some great deals:

• Over two fifths (42 per cent) of all products listed on the price comparison site dropped in price on Boxing Day 2021 (down four per cent year-on-year PriceSpy dropped in price on Boxing Day 2021**;
• And just over a fifth (21 per cent) of all items listed on PriceSpy received a price drop of 10 per cent or more, offering consumers an attractive average saving of -21 per cent (the same as Boxing Day 2020)**;

Liisa comments: “For anyone looking to take advantage of the discounts being offered on Boxing Day, historically, we can see there are some good prices around.

“And shoppers may also want to consider buying last year’s releases, as purchasing older models can often offer good saving opportunities across big sale events, like Boxing Day. ”

Don’t assume everything is cheap on Boxing Day - watch out for fake sales and price hikes

Despite Boxing Day being the most popular shopping day of the year, consumers shouldn’t automatically assume that the deals offered are the cheapest.

In fact, according to PriceSpy’s Price Index data***, the indexed price drop was found to be more significant on Black Friday last year than Boxing Day:

• PriceSpy’s Price Index fell -5.54 per cent on Boxing Day last year (2021), however, on Black Friday 2021, it dropped -5.62 per cent***.

“Our ongoing research continues to highlight why consumers should never assume the deals offered across Boxing Day are the cheapest, or that all prices are discounted, as clearly this is not the case, says Liisa.

“And as we’ve come to learn, consumers need to carry out essential pricing research before they buy across flash sale days, like Boxing Day, as unfortunately, our pricing research reveals price hikes are still happening across big sale events, like Boxing Day.”

Pricing research from PriceSpy found that on Boxing Day last year (2021):

• Almost a fifth (23 per cent) of all products listed on PriceSpy were subjected to receiving a price hike on Boxing Day last year (2021).

Most popular doesn’t mean cheaper!

Shoppers should also remember that popular products may not offer good discounts on big sales days.

“When we look at the historical pricing insights across some of the most-popular items people were looking to buy on Boxing Day last year, we can see three out of four were cheaper to buy at other times of the year,” says Liisa.

Always conduct pricing research

Especially after an expensive time like Christmas, flash sales days like Boxing Day can offer a great time for people to purchase items they really need at better prices.

Liisa concludes: “The only way of checking if a discount offered on a sale day, like Boxing Day, is worthwhile pursuing, is if consumers carry out their own independent pricing research.

“No matter what day of the year you choose to shop, never rush buy – always do your research first. And 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, also check out how much an item has been sold for historically using a price comparison app, like PriceSpy. That way, consumers can see clearly if the price has been hiked at the time the sale is running or if now is actually a good time to buy.”

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