eCommerce Is Exploding In Australia – Here’s Why
In case you are not aware, over 94% of Australians have a high-speed Internet connection or at least access to one. And of these, over 60% utilise this connection multiple times per day to either buy or research products they want. This means that as a business owner, you must have a responsive eCommerce website that takes advantage of reaching this online market. Simply put, eCommerce is one of the most lucrative and fastest growing business opportunities in the country, and here are the numbers to prove it:
Big Numbers and Getting Bigger
As of 2010 eCommerce sales in Australia were around $27 billion and as of 2013 had exceeded $37 billion. Online sales are increasing at a rate of approximately $4 billion per year with no signs of slowing down. This offers an enormous opportunity for those who see it and take advantage of it.
Online Consumers in Australia are Spending More Money
Online spending by Australian consumers has doubled from an average of $1048 per person in 2006 to over $2100 as of 2013. The numbers don’t lie, Australians are simply spending far more online than ever before, and over 73% of Internet users in the 35-44 demographic have used the internet for purchases.
The Mindset of Australian Consumers
There is a definite trend among Australians to go online to shop as opposed to shopping at local retail establishments. Well over half the population believes that they can procure the items they are seeking to buy at reduced prices online, which is why more and more are turning to online shopping. Over 20% of Australians shop online primarily for the convenience and the larger selection of available products.
What Does The Future Look Like for eCommerce in Australia?
As more Australians go online to make purchases, eCommerce opportunities will only increase. In addition, mobile eCommerce (also known as m-commerce) is also on the rise. The increasing availability of online websites making their products available for purchase is driving this increase. Over 57% of online shoppers in Australia used their mobile device to make purchases in the last year alone. If you haven’t taken advantage of this opportunity, it’s time to reap the benefits and get your piece of this online pie!
Some of the most popular categories of products purchased by Australians online include:
- Travel and Accommodations – 74%
- Music on CD/DVD – 45%
- Clothes and Jewelry – 34%
- Computers and Software – 31%
- Sports Equipment – 29%
- Electrical Goods – 21%
- Stocks and Insurance – 21%
- Food and Groceries – 13%
- Online Lotteries/Gambling – 9%
- Home Furnishings – 8%
- Medical Items – 6%
As you can see, the rising trend in eCommerce is enormous and getting bigger every day. There’s no time like the present to bolster your eCommerce strategy so you can take full advantage of this vast market. And like I often like to remind people, if you don’t take capitalise on this opportunity, someone else will!