What’s your approach to EOFY sales? Cautiously optimistic, or are you more of a rev-your-engine-and-sprint-for-the-flag type of buyer?
After months of putting the brakes on your spending, the urge to splurge on End of the Financial Year (EOFY) sales can be irresistible! Bargains of all kinds are landing in our inboxes, popping up on socials, and dominating billboards and TV ads everywhere you look. Yet, amid all of the hubbub, the shrewd buyers say this is an ideal time to stretch your shopping dollar to the max.
Why EOFY sales are such a big deal
With June 30 signalling the end of the financial year in Australia, businesses traditionally look to reduce old stock to make space for new models and products. For many companies, it’s also a last chance to meet their quarterly or annual sales targets. This can translate into significant price reductions. What’s not to love about a fantastic deal on something that's perfectly good, although not the newest model?
At the other end of the spectrum are shoppers who want to maximise their tax returns by claiming all relevant work-related expenses.
Who are the biggest spenders?
Australian shoppers are expected to spend over $10 billion on EOFY sales this year. According to research, the male-female split is pretty even, with under-35s making up the biggest sector and Aussie men under 35 forming the largest single group.
Items topping the under-35 wish list are clothing, footwear and accessories. They are also keen to buy electronics and tech, claiming them as work-related tax deductions.
EOFY can also be a great time to upgrade your vehicle. So, if you’ve been thinking about buying a new car, check out the huge range of easyauto123 Quality Verified™ cars from the comfort of your living room!
Are EOFY sales worth it?
The general consensus is yes! For smart shoppers, end-of-financial-year sales are an opportunity to grab a genuine bargain. So, start your engine and use these timely tips to navigate the plethora of deals out there.
Do your homework: It may be stating the obvious, but research is a must. Knowledge really is power. Not only will you find it easier to spot a genuine discount, but sticking to your budget also will be easier.
Check the fine print: Spend time reading the terms and conditions. Be aware that certain deals on sale items have strict return policies, etc. — check that they work for you.
Stay organised: Be diligent with your receipts. Securing your receipts will make returning items, warranty claims and, where relevant, claiming work-related tax expenses easy.
Being strategic with EOFY sales gives you maximum benefits from this time of year. You, as the customer, are in the driving seat to grab some amazing bargains!
So what are you waiting for? Find yourself an EOFY used car deal today!