Australian online sales expected to reach $ 91.5 billion in 2025
Australia’s e-commerce market is expected to reach $ 91.5 billion in 2025, according to research firm GlobalData.
According to GlobalData Electronic commerce analysis, online sales in Australia rose 16.8% last year and the company expects them to grow another 13.4% this year, to $ 60.6 billion.
Shivani Gupta, senior banking and payments analyst at GlobalData, said the strong growth in recent years has been driven by increasing internet penetration, the availability of secure online payment systems and an increasing number of online shoppers.
The onset of the Covid-19 pandemic has further fueled change online.
“The pandemic has accelerated e-commerce activity in the country as suspicious consumers stay at home to avoid exposure to disease vectors. This trend will continue, driven by the increase in the number of new online shoppers.
She says online purchases of retail products such as groceries and electronics have risen sharply while sectors such as travel and accommodation have been hit by the lockdowns.
“The pandemic has resulted in a permanent shift in the purchasing behavior of consumers, moving from in-store to online shopping, which has accelerated the adoption of digital payments and benefited alternative payment solutions.
“Buy now, pay later” – particularly popular among millennials – is expected to account for 7.7% of total e-commerce payments this year.