Here we have aggregated recent purchases made by our global customer base of almost 10 million, across our catalog of 55,000+ brands and retailers, to identify the season’s key trends and shopping patterns.
What sets our report apart is our use of actual, up-to-the-moment customer purchase data, coupled with the fact that an overwhelming majority of Afterpay users are categorized as Millennials and Gen Z.
As we know, the shift to e-commerce has accelerated at its fastest ever rate in 2020. By May, it was up 70% year-over-year and had reached $82.5 billion in the US alone. In the last few months, people who have never shopped online had no choice but to do so. People who already shopped online either expanded the categories they purchased across, or the frequency at which they were transacting.
What is clear is customers were and are still purchasing - but what they’re purchasing has changed. Purchasing behavior reflects the shift in the external environment. Categories such as beauty, fitness, and home decor grew in demand. People also showed support for small and local businesses.
This is followed closely by 57% of global consumers saying budgeting has become more important compared to before the pandemic.
Using their own money is important to them.
The most important factor right now in making a purchase for global customers is - drum roll - looking good for myself.