More than half of Australians, about 56 per cent, are planning to shop during end of financial year sales, with average spending expected to reach $593, according to research from Compare the Market.
Fashion is leading the list of intended purchases, with 34 per cent of respondents saying clothing, shoes and accessories are on their radar. Smartphones follow at 21 per cent, while kitchenware sits at 19 per cent. Other popular categories include beauty products, home electronics and furniture, each at 17 per cent, while smartwatches, televisions, toys and tablets are each at 12 per cent.
The data shows 23 per cent of Australians expect to spend more this year compared with last EOFY season, pointing to continued appetite for discounted retail offers even as households navigate higher living costs.
The research comes against a backdrop of interest rate settings held steady by the Reserve Bank of Australia at 4.35 per cent, following earlier increases aimed at easing inflation pressures.
Spending patterns vary slightly by state, with Victoria reporting the highest average at $613, followed by New South Wales at $592, Queensland at $546 and South Australia at $520.
Compare the Market economic director David Koch said many Australians were actively searching for value, even as broader financial pressures remain.
“Aussies look set to spend big this end of financial year,” Mr Koch said.
He said many households had been holding off on discretionary purchases and were now using EOFY sales as an opportunity to buy items they had delayed. He also noted that increased spending can sometimes complicate efforts to bring inflation under control.
Mr Koch pointed to wider influences on prices, including global energy market shifts linked to geopolitical tensions, and said households could still face pressure in the labour market if conditions weaken further.
Alongside retail spending, he said EOFY is also a useful period for reviewing household bills, including insurance, energy and other ongoing costs.
He highlighted health insurance as an area where consumers may find short-term offers, particularly around tax time when some Australians take out cover to avoid the Medicare Levy Surcharge. Energy providers, he added, are also expected to promote new deals ahead of upcoming changes to default electricity offers from 1 July.
The research also set out practical spending habits among consumers, with fashionwear, electronics and home goods topping shopping lists, while suggesting many shoppers are combining planned purchases with deal-hunting behaviour.
EOFY-related offers in health insurance include incentives such as free weeks of cover and waived waiting periods on selected policies from providers including NIB, AIA and See-u by HBF. Details are available via Compare the Market EOFY offers.
Mr Koch said consumers who take time to compare bills and check loyalty programs or discount portals may be able to reduce costs beyond retail purchases alone.
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