Sales will reach 77.1 billion Australian dollars! Australia's e-commerce market has great potential

The epidemic has further promoted the process of e-commerce in Australia. Recently, AMP stated that if Australian consumers continue to maintain high levels of online sales in the next five years, online shopping may be closer to the levels of the United Kingdom and the United States.

According to the Investment Centre , 2021 will be the "year of consumption" as pent-up savings from the lockdown are put to use, especially in the online sector.

Online shopping in Australia will account for 25% of all purchases

The global COVID-19 pandemic has greatly promoted the development of Australia's e-commerce market. Previously, relevant data showed that by the end of 2020, Australia's e-commerce market sales are expected to account for 15% of the country's total retail market.

Recently, AMP real estate research director Luke Dixon said in a live webcast that Australia's savings rate has hit a record high and consumer confidence has also increased, which are good signs for retail spending.

" Lower tax rates, government subsidies, mortgage and rental relief and super loans have all boosted household incomes , " Mr Dixon said . " Consumer confidence is at its highest level in a decade and high household savings rates mean consumers have more spending power. "

"Due to last year's strong retail sales, we have updated our forecasts to show that online shopping in Australia could account for up to 25% of total retail sales by 2030," Dixon said . " If we see rapidly growing levels of online sales over the next five years, we could break through the 15%-20% threshold and become more similar to online sales in the UK and US."

E-commerce sales to reach A$77.1 billion

After a record-breaking festive season in 2020, online shopping volumes in Australia have slowed in the new year . Although online shopping volumes are down compared to December last year , national purchases were up 44 per cent in January 2021 compared to January 2020.

And, according to GlobalData , e -commerce sales in Australia are expected to reach A$77.1 billion (US$54.2 billion) by 2024.

It can be seen that during the pandemic, consumers' preference for online channels has increased significantly . It is believed that with the acceleration of e-commerce and the continuous growth of the number of online retailers, e-commerce in Australia will also achieve great development.

Australia

E-commerce