Online spending continues to surge in Australia, setting new record
Online spending in Australia surged to a new record during the July-September quarter as shoppers increased purchases amid more frequent sales events, according to a report by Australia Post.
According to the latest Quarterly E-commerce Report, online spending grew 15 per cent year-on-year to $20.7 billion for the quarter. This was also 6.2 per cent higher than the April-June quarter.
While the average basket size remained flat at $95, the number of households that shopped online increased 2.7 per cent to 8.1 million. This signals an online spending boom which is expected to intensify across the Black Friday and Christmas periods, the report notes.
Online marketplaces continued to be the top-performing category, with sales rising 10 per cent year-on-year to $4.6 billion. Food and Liquor was in second place with sales up 14 per cent to $4.2 billion, and fashion was in third with sales up 13 per cent to $2.7 billion.
Books, stationery and multimedia; consumer electronics; and hobbies and recreational goods saw the biggest growth of any online category (up 43 per cent, 21 per cent and 19 per cent), reflecting growing demand for at-home entertainment and lifestyle products.
By region, NSW recorded the highest online spending during the quarter, followed by Victoria and Queensland.
The report also reveals that value-driven shopping continues to motivate customers, with three in four shoppers saying they are holding out for major sales events.
Half of shoppers say they will spend during the upcoming Black Friday and Cyber Monday sales, setting the stage for a strong October-December quarter.
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