According to a recent report commissioned by Quantium, 81% of all online spending in Australia is domestic.
Year-on-year (YoY) growth rates for online spending is currently at 16.9% and this greatly outstrips the growth in international online sales which is only 0.9% YoY.
A key factor behind this has been the depreciation of the Australian dollar, which pushes up the price of international goods.
The maturing of the online shopping experience should not, however, be seen as a threat to shopping stores. The continued success of Westfield demonstrates that online shopping complements, rather than takes away from, bricks and mortar shopping.
If you’ve got any feedback on the role online sales play in your retail business, we would love to hear from you at [email protected].
Next week: Share of online spend by state