Did you know 94% of the entire population of Australia has access to high-speed Internet and 60% of them go online multiple times a day? What does this mean? It means that online businesses such as e-commerce websites have a really good opportunity to reach a very large section of the population. So, why is e-commerce in Australia considered one of the biggest business opportunities that is expected to grow rapidly?
Numbers don't lie
Australian e-commerce sales were at $27 billion in 2010 and have reached more than $37 billion in 2013. Not just that, sales have been continuously demonstrating an increase of $3-4 billion every year. In terms of business, this represents a viable opportunity of revenue generation.
Consumers are spending more
When you consider the fact that the Australian consumers had an average annual online spending of $1048 in 2006 and it has grown significantly to $2108 into 2013 – it's easy to agree to the notion that people are spending more freely online than they were before. 73% of Internet users belonging to the age group of 35 to 44 have done shopping online. Australian consumers spent a total of $16 billion online in 2012. Their New Zealand counterparts spent more than $3 billion the same year. Doesn't e-commerce sound like a great business? Of course, it does.
What's pushing this trend?
There is an increasing tendency in the Australian population for preferring online shopping over local retail shopping. 55% of Australians think that online shopping portals offer lower prices. That's why they are more open to buying things online. In addition to that, more than 1/5 of the population prefers online shopping. That is because of the convenience it offers and the wide range of items available online.
Why create e-commerce solutions for Australian population?
As the statistics reveal, Australians make more than half (53%) of their online purchases on e-commerce sites. Consumers like to purchase more often from such websites because they are considered reliable local brands.
What can we expect from the future of e-commerce in Australia?
Looking at the predicted growth of e-commerce in Australia by 2016, the spending is expected to grow in the range of about $27 billion in Australia and $5.37 billion in New Zealand. In addition to that, m-commerce, which is the new face of e-commerce, is going to fuel the increase in spending. This is due to easy accessibility to the online shopping portals via mobile devices. In fact, 57% of online shoppers have spent more using their mobile devices in the past year.
In short, opportunities are endless and getting started with an e-commerce business is easier than ever. The question is: are you ready to take your slice of this opportunity from the market?
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