Experts predict eCommerce stores across Australia would gross $37 billion in 2013. According to the report of Paypal Australia Managing Director dated on 4th Feb 2013, the revenue is expected to show 11.7% growth this year.
The M.D. christened this report as “Secure Insight” and launched it at Westin Hotel, Melbourne. He also elaborated on the reasons of this sky rocketing number and how it would positively contribute to the Australian economy.
“Secure Insight” suggests that technology clubbed with new business model are bringing a break through change in the retail market. It states that consumers are connecting online through various local, mobile, social and digital media which are availed to do online shopping. According to the report published jointly by Nielsen’s Forrester and Australian centre for retail studies, eCommerce stores catering travel and grocery selling are the main contributors in online selling.
Apart from travel and grocery stores, eCommerce stores selling fashion accessories, apparels, foot wear are growing at noteworthy rate of 20% giving a real boost to online retail shopping. Music and video sales score the second rank with 17% growth all thanks to Apple iTunes stores. Forrester suggests that domestic retail shopping accounts to 73% of online selling in Australia. The market is also very receptive to international online retailers thus earning global income.
The prime reason for the rocket paced growth of eCommerce stores in Australia are increasing number of mobile users plus their growing faith on secure payment methods. The report declares that nearly 30% of smartphone users in Australia shop one item through their phones. And 9.7 items are purchased by average Australian eCommerce store user. Plus customer’s view of online security is improving with each passing day resulting in frequent online shopping .
With more than 15 million active Internet users, the frequency of shopping from eCommerce stores has drastically improved. The overwhelming figure of $37 billion shows the popularity and strength of eCommerce in the Australian market. Many more avenues in online shopping are expected to open up with respect to “Secure Insight”. Trade experts opinion that with an ever growing number of online users, the revenue is certain to shoot up bringing up Australia as a tough competitor in global eCommerce market!