
A growing challenge of social media is shaking the already already developed retail market in Australia.
The so-called ‘no buy’ challenge promises people to stop spending money on unnecessary items for some time-such as a month or a year.
According to Dr. Amanda Spray, a senior marketing lecturer at RMIT University, the emergence of new trends has been minimalized, a mixture of anti -conscience and financial welfare philosophies, which has all been popular over the past decade. –
Dr. Speaker explained, “Think of Mari Kondo and” improving life -changing magic, as well as financial freedom, as well as financial freedom, early (fire) and slow -paced movements of fashion. ”
“Recently, ‘Dan Flouinsing’ (preventing followers from buying more priced or low -performing products) and ‘Under -Consignment Core’ (taught consumers about using them The goes that they already keep and buy only what they really need) has occupied social media.
“Specified ‘don’t buy’ challenges Reddate, YouTube and now, have popped up across Instagram and Techtok where people can document their ups and posts in this trip and post it as content.
This comes when retail spending in Australia softens interest rates, anti -inflation and uncertainty on the economic approach.
In November 2024, retail sales increased by only 0.8 % compared to the previous month. This increase is less than 2 % lift in sales from October to November 2023.
In addition, the ‘no buy’ challenge will affect some retailers more than others. It depends on the categories they work, as the challenge is on eliminating unnecessary purchases. Some important trendy categories that are being focused include clothing and shoes, beauty and personal care, food supply services, entertainment and hobbies.
At the same time, Dr. Spray says some consumers are celebrating the new purchase challenge with the acquisition of purchase that they distribute on social media, possibly changing the spending samples.
She says, “For consumers participating in this challenge may also decrease the purchase of continuity and convenience, which can affect retailers who encourage this type of cost, for example With, space in physical and digital checkout. “
“Along with the consumers who are not buying, retailers may find changes to continue to buy consumers. Consumers who participate in No-BUY challenges still buy essential goods and single use products, such items You can choose more than those who suffer from trends, and the quality of the quantity that supports sustainable purchases are initially more expensive.
Dr. Spray added that the challenge could also turn consumer participants to ways such as repair and up cycling instead of wasting and replicating their goods.
“Retailers and service providers in this area can enjoy increasing demand.”
For retailers who are affected, doctors recommend riding on spray wave and avoiding grain.
“There is an opportunity for retailers to step into their social and environmental responsibility and help their customers participate in this challenge.”
“For subscription model businesses, make the ‘pause’ options for consumers more easier and go through these services and change their personal conditions.
“Highlight friendly alternatives to purchase, including numerous uses or applications, or they are durable or everlasting – such as clothing capsule combinations. Add desire list and quick, limited time only go away from marketing messaging.
The retailers also want to find valuable valuable and unique ways to engage with consumers and avenge their loyalty. Which are not just about purchases. Dr. Spray says that fast, consumers are being encouraged to write reviews, for example.
She also recommends connecting educational and storytelling content that is associated with the challenge of buying-such as the tips on enhancing the life of your product life and trade or regeneration programs.
Looking forward in 2025, Dr. Spray says it is difficult to predict how this ‘no purchase’ challenge will be created. Cash rate drops can put money in the pockets of people who have a mortgage, but they can take money from the sewers. As the economy decreases, the cash rate will also decrease, which is related to low costs.
“But for the growing number of people, not to spend – it is not a fun or personal challenge that they can choose. This creates the important question of the privilege of choosing to participate in the new purchase challenge. It happens.
“Although for some people it can be a theme of self -improving or even a popular content for social media, it comes from a place of financial protection where it is about living mentality, not survival.
“Participants have a potentially financial cushion and they own their needs to take care of their families, to work and to live comfortably. They can be empowered ‘no buy’ mentality, while For others who have a history of financial difficulties, this is tired.
“It is important to admit that not everyone can temporarily choose a ‘don’t buy’ lifestyle, and to see what other financial education and fitness resources can be provided.”