Australian online sales tipped to reach $91.5 billion in 2025
Australia’s e-commerce market is projected to reach $91.5 billion in 2025, according to research house GlobalData.
According to GlobalData’s E-Commerce Analytics, online sales in Australia grew by 16.8 per cent last year and the company expects them to grow by a further 13.4 per cent this year, to reach $60.6 billion.
Shivani Gupta, banking and payments senior analyst at GlobalData, said the high growth during the past few years has been driven by growing Internet penetration, the availability of secure online payment systems, and an increasing number of online shoppers.
The onset of the Covid-19 pandemic further fuelled the shift online.
“The pandemic accelerated e-commerce activities in the country as wary consumers are staying home to avoid exposing themselves to disease vectors. This trend will continue, driven by the rise in new online shoppers.”
She says online purchases of retail goods such as groceries and electronics grew strongly while sectors such as travel and accommodation were impacted by lockdowns.
“The pandemic has brought a permanent shift in consumer buying behaviour from in-store to online shopping, which has accelerated the adoption of digital payments and benefited alternative payment solutions.
‘Buy now, pay later’ – especially popular among millennials – is expected to account for 7.7 per cent of total e-commerce payments this year.