Dublin, Aug. 02, 2024 (GLOBE NEWSWIRE) -- The "Australia Online Retail Forecast 2023-28" report has been added to ResearchAndMarkets.com's offering.
Australia's online retail market is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.7% from 2023 to 2028 after a decline of 0.3% in 2028. The slowdown is due to the caution shown by shoppers on spending for non-essential categories.
For the first time since 2018, non-discretionary spending has outpaced discretionary spending, reflecting a notable shift in consumer priorities amidst an evolving economic landscape. Spending is set to come back in 2024 with a growth rate of 7.6% in online retail.
High Per Capita Spending on Online Retail
Spending per online buyer to reach $2,910 by 2028, up 6.7% from 2023 in Australia making it the country with highest spending on online retail globally after South Korea and China. 8 in 10 Australian households shopped online in 2023 and the frequency of purchase is continuously increasing since 2019.
Mobile accounts for 68% of online retail sales
Smartphone is the preferred device for online shoppers in Australia accounting for 68% of total online retail sales.
Grocery largest online retail category
Online grocery is the largest online retail category in 2023 with sales of $6.8 billion followed by clothing and appliance. Online grocery sales are expected to reach $9.5 billion by 2028 accounting for 7.3% of total grocery sales.
Report Coverage
The Australian Online Retail Forecast offers comprehensive view of online retail market in Australia. The forecast details online and offline growth for 12 product categories in Australia along with sizing of mobile commerce market.
The report provides historic and forecast data from 2009-23 for 12 categories in retail and online retail to understand the retail market in Australia.
The Retail market in Australia is expected to grow at a CAGR of 1.8% between 2023-28 to reach $261.9 billion in 2028 from $239.7 billion in 2023. Online retail declined 0.3% to reach $42.2 billion in 2023 accounting for 17.6% of total retail sales.
Scope of the Report
- Total population - Historic and forecast data from 2009-23
- Online population - Historic and forecast data from 2009-23
- Online buyers - Historic and forecast data from 2009-23
- Online buyer for 12 categories
- Categories covered
- Computer hardware and software
- Consumer electronics
- Personal Care
- Clothing
- Footwear, Luggage and Accessories
- Sports and entertainment goods
- Homeware and furniture
- Toys
- Grocery
- Movie Tickets
- Appliances (personal and home)
- Media
- Total retail sales - Breakdown by 12 categories
- Online retail sales - Breakdown by 12 categories
- Online retail sales via mobile
- Category wise breakdown of retail sales via mobile
- Online retail sales - B2C vs C2C
- Online retail market share
- eCommerce sales for key online retailers
Companies Featured
- Amazon
- Woolworths Food
- Bunnings Group - Kmart, Target, Officeworks
- MYER
- JB Hi-Fi Australia
- Coles Supermarkets
- Coles Liquor
- The Iconic
- Apple
- Chemical Warehouse
- Dan Murphy's
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 47 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $42.2 Billion |
| Forecasted Market Value (USD) by 2028 | $64.1 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Australia |
Key Topics Covered:
- Australia retail market forecast 2023-28
- Australia retail market Y-o-Y growth
- Total retail sales by category, 2023
- Total retail sales growth by category, 2023
- Total retail sales CAGR by category, 2023-28
- Number of households shopping online, 2023
- Frequency of online purchases per year
- Most valuable factor while shopping online
- Preferred payment method, 2023
- Preferred Online Retailers in Australia
- Total online buyers forecast, 2023-28
- Online buyers by category, 2023
- Total online retail sales forecast, 2023-28
- Australia online retail market Y-o-Y Growth
- Online retail sales by category, 2023
- Online retail as a percentage of total retail spending, 2023
- Online retail sales CAGR by category, 2023-28
- Online retail spending per online buyer
- Online retail spending per online buyer by category, 2023
- Total online retail sales by mobile and desktop
- Online retail sales market share by online retailers
- eCommerce sales of key online retailers
- Woolworths Food
- Bunnings Group - Kmart, Target, Officeworks
- MYER
- JB Hi-Fi Australia
- Coles Supermarkets
- Coles Liquor
For more information about this report visit https://www.researchandmarkets.com/r/ks9j61
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