Although the cost of living crisis is raging, two groups of Aussies seem to be largely unaffected and are still happily splashing their cash.
Baby Boomers and Western Australians are spending way more in online shopping than their younger and eastern counterparts.At the same time, Western Australians also appear largely resilient to the current crisis, buying significantly more eCommerce products than any other state or territory.
Australia Post’s report into the eCommerce industry noted the blistering difference in spending across generations.“While Baby Boomers enjoyed financial freedom, spending nearly $1 billion more than they did last year, the younger generations cut back on spending in light of financial pressures.” Gen Y and Gen X, the two generations in between, were relatively more stable, spending two per cent less and one per cent more than the previous year, respectively.
Zoomers used up their money mostly on fashion items while home and garden supplies made up the most popular purchase category for Boomers.It dropped from what was described as an “exceptional” 9.3 per cent to a “modest two per cent, “below the pre-Covid average”, according to the report.Western Australia led the way in 2023 with the highest growth in the space of a year when it came to online purchases, at 5.1 per cent.
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