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April 3, 2014

Why Australia is the next biggest Market for Online Retail

With online shopping exceeding Aus$10billion, The country is al set to become the latest ecommerce hub in the Asia pacific region after China

According to the Australian Bureau of Statistics, Australian consumers spent at least AUS$6.23 billion on overseas purchases in the last financial year. The figure, which is limited to goods under the value of $AUS1,000,

During the same period the ABS estimates that Australians spent about AUS$4.55 billion on purchases domestic online retailers during the same period, implying that the total value of online shopping in Australia was more than AUS$10 billion. This is a growth of 3.4%  as compared to the corresponding period last year

The annual turnover of domestic online retailers  in Australia was around  $4,554m in 2011-12. 

With  an internet penetration of 90% and smartphone penetration of 65%, Australia's technology infrastructure is evenly poised to ' see  double digit e commerce  growth.

 Consider the following facts ) source 

  • 71% of Australian consumers have made a purchase online
  • Online sales revenue in Australia is expected to reach more than $37bn during 2013
  • 53% of users buy from Australian E-Commerce Sites instead of overseas sites
  • 73% of online users in the age group of 35-44 have shopped online
  • $2,108 is the average spend of each online customer in Australia