With this year’s Black Friday and Cyber Monday sales season coming amid a tight economic landscape, shoppers are looking to stretch their dollars further, giving retailers an opportunity to compete on value for money and sustainability, not just price.

New research from Shopify which gathered responses from over 4000 consumers and 500 businesses across Australia and New Zealand revealed that value for money is a top desire among shoppers at the moment, along with a growing interest in sustainability. 

In fact, over two-thirds of consumers in Australia and New Zealand – 69 per cent and 71 per cent respectively – are looking to spend money on higher quality products that will last for a long time during this year’s Black Friday and Cyber Monday shopping window. 

While bargain hunting is still alive and well, with over 80 per cent of Australian and New Zealand consumers comparing prices to see where the best discounts are, retailers have more to compete on than just price. Today, product quality, longevity and value are all prominent factors in consumers’ decision-making processes. 

One retailer making use of these elements to achieve competitive differentiation is the Australian premium luggage brand July, which provides a lifetime warranty on manufacturing faults for its products. For July, the sales season provides the additional nudge needed for consumers who are looking for value for money on quality products.

“With the cost of living continuing to rise, we’ve noticed a shift in the way our customers are shopping,” says Zhoe Low, GM at July. “We quickly realised that our customers are planning trips in advance and shopping earlier than usual, most likely to take advantage of peak sales times. 

“To accommodate and react to this trend in pre-holiday prep, we are distributing gifting messaging sooner as well as being much clearer with our shipping timeframes,” she adds. 

While July has adapted its promotional activity to make the most of the sales season, it is also leveraging the growing consciousness around environmental sustainability among shoppers to generate additional interest in its products at sale time. 

“At July, our goal is to break the cycle of single-use travel products, so we offer a lifetime warranty on all of our suitcases so our customers can keep them forever,” says Low. “As a result, we also put a conscious effort into ensuring that our products are durable, sustainable and long-lasting, with a considered footprint from materials to manufacturing.” 

This is a valuable point of appeal, with Shopify’s research suggesting that more than half of consumers in Australia and New Zealand expect to shop sustainably now and plan to either continue with their efforts or be more sustainable in 2023. 

Few people say they will compromise on this, even in a cost of living crisis, with almost half of those surveyed in the region saying they are more likely to buy from a brand that is sustainable this sales season.

These findings should give retailers hope that they can approach the sales season with more points of competitive differentiation than just price. After all, value for money and sustainability are two traits that are likely to increase the worth of a brand in the eyes of consumers and leave a lasting impression for the next sales season.