It’s no secret that the growth of eCommerce in Australia is upon us. With major retailers opening their online branded stores and consumers gaining confidence with the online shopping process.
When we talk about the eCommerce market, we are referring to the sale of physical goods via an online channel to a private end user (B2C). This incorporates purchases completed on the most commonly used digital mediums: Desktop Computers, Laptops, Tablets, Notebooks and Smart Phones.
So just how much are we Australians spending online? The numbers may surprise you!
Revenue in the eCommerce market (according to statista.com) amounts to US$ 18.62M in 2018. This is expected to grow to reach US$ 26.9M by 2023. This is a staggering amount!
This means that on average, each of us spends around US$ 1,044 each year online. The highest grossing segment is identified as Fashion. This indicates that Australians are becoming more and more comfortable with the online purchasing and deliveries experience and no longer feel the need to visit retail outlets to try clothing on before buying.
Now is a critical time for Australian business to diversify and expand into an online offering if they have not made moves to do so already. There are a number of platforms that can assist with creation of a store and website very quickly. These include Shopify, WooCommerce and Magento to name a few.
Statistical reference: https://www.statista.com/outlook/243/107/ecommerce/australia#market-revenue