Brands, it’s time to start thinking about how you can win Gen Z this June during the End of Financial year sales.
The 2021 End of Financial Year sales are fast approaching – and this annual shopping event is the perfect opportunity for brands to engage with the valuable Gen Z consumer demographic. This particular shopping event is one for all sectors to get involved with – here’s everything you need to know:
EOFY: an overview
The End of Financial Year sales started off as a way for retailers to shed stock ahead of 30 June, the last day before the financial year resets itself. Now, EOFY has evolved into an Aussie institution, earmarked by the financially-savvy consumers as a shopping date to remember. Taking place throughout the month of June, consumers know it as a time to get their hands on big-ticket items across all verticals – so as a brand, you can really make it your own.
The appeal for students
The EOFY sales tend to coincide with the June exam season for most university students. They’ll be on the lookout for tech and stationery to see them through their studies, as well as luxury purchases and one-off treats to reward themselves. Student consumers will be swamped with heavily-discounted laptops and tablets during June – make yours stand out by boosting your student discount, and making it stackable with your regular EOFY discount.
According to our student survey, 38% of Aussie students have previously purchased something from the EOFY sales. During the pandemic, over half of students said they were looking for discounts more often – so we can expect the number of participants to rise this year as life returns to normal and students gear up for events they missed out on during the height of the pandemic.
Key takeaways for brands to consider
86% of students will click on an ad which shows a high discount – it’s got more chance of grabbing their attention than a funny ad, cool-looking ad, or even a celebrity or influencer. This year, post-pandemic pent-up demand will be high as key events in the student calendar return at normal capacity this year. Make sure you lead with a student discount to really grab Gen Z’s attention.
Plus, set yourself apart from your competitors and make your student discount stackable. On big events like EOFY, students will get excited by huge savings – but will be put off if they don’t also get student discounts.
Check out our Aussie Events Guide to get the low down on all the shopping sales events your brand should be a part of – and how they appeal to Gen Z students.