Aussie Online Electronics Spending Surges
The report, which contains a spotlight on retail, found that Australians spent an estimated $37.8 billion online over the last financial year.
Electronics was the second fastest growing online shopping category by total dollars spent year-on-year, recording 23.1 per cent growth, topped only by the Home and Garden category (up 26.5 per cent).
In good news for Australian retailers, Roy Morgan further found that the majority of shoppers in most online product categories purchase from Australian websites, with an estimated 72 per cent of online spend (around $27 billion) staying in Australia.
Categories where a majority of shoppers still buy from international sites include Books and eBooks, Men’s Clothing, Jewellery and Watches, and Video Games and Consoles.
Traditional retailers, meanwhile, have been gaining ground on online-only stores. Roy Morgan notes that five years ago “virtually all the money we spent on commodities online was via online-only stores”, however now 34 per cent of the market is for bricks-and-mortar retailers’ internet stores.
Roy Morgan found that Australians made a combined 1.34 billion trips to department stores, discount stores, hardware, homewares, clothing and music stores and newsagents over the last financial year, representing around 170 million fewer trips than five years ago, despite a growing population.
However, many customers are instead visiting retailers’ websites, with 47 per cent of Australians agreeing that they will research products online before buying from a store, and 31 per cent using the internet to research a product or service to buy in an average four weeks.
“The retail industry is shifting to an ‘omni-channel’ perspective,” Roy Morgan Research CEO Michele Levine commented. “Consumers don’t care about the battle between online and traditional bricks-and-mortar stores – for them, it’s all ‘shopping’.
“They research products online before visiting the store, or they touch, test and try on in-store before buying online.
“Today’s shoppers want (and expect) it all, and to be able to get it by whatever device or channel suits them best. Our most successful retailers – from niche online-only sellers to national chains to international juggernauts – are those that can supply the demand from all angles.”