Spending power holds as high-value shoppers change how they buy
New research from The Growth Distillery breaks down the signals retailers should be watching.
High-value consumers continue to spend despite cost-of-living pressures, but are taking a more deliberate approach to purchasing, according to new research from The Growth Distillery.
The report, Signals of Intent: Retail, outlines four behavioural indicators that signal when consumers are likely to increase spend and expand their baskets.
The research found high-value shoppers take an average of 12.5 days to complete a purchase, compared to 6.7 days for other consumers.
The report notes that longer purchase journeys can indicate higher intent rather than indecision.
Increased research and validation
High-value shoppers perform 64% more online research, including seeking expert reviews and trusted editorial content.
They are also 60% more likely to temporarily abandon their cart, using the pause to validate their purchase decision.
Jessica Folkard, Senior Manager Audience Intelligence at The Growth Distillery, said: “High-value shoppers are twice as likely to use expert guides and twice as likely to engage with trusted editorial content before buying. The opportunity isn't in the discount, it's in providing the confidence that justifies the premium.”
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Jessica Folkard
Additional spend at checkout
While 94% of purchases are planned, the report found 48% include additional items, with an average incremental spend of $184.
The research indicates that checkout and post-selection stages present opportunities to increase basket size.
The report recommends retailers use purchase journey length as an indicator of value, and prioritise expert content and social proof over discounting.
It also highlights the role of trust markers, including returns policies and staff expertise, in influencing high-value shoppers.
The findings are available through Intent Connect, News Corp Australia’s audience intelligence platform, which enables targeting of high-value consumer segments.
