Oz Businesses Rake In $394 Billion In Online Income
The ABS’ latest numbers reveal local businesses collected a combined $394.3 billion in ‘internet income’ for the year ending June 30th 2017 – up $72.9 billion, from $321.4 billion the year before.
During the year, the volume of businesses jumped from 799,000 to 831,000.
The news comes as e-commerce continues to soar, and follows enhanced IT and digital marketing spending within the retail sector.
The number of businesses with a web presence slightly lifted from 50.1% to 51.1%, whilst those with a social media presence jumped from 38.2% to 40.4%.“The scope of internet income estimates includes both business-to-business and business-to-customer orders and as such is not adjusted to include only the value-added component of a sale,” the ABS’ report adds.
Despite e-commerce and internet derived income growth, the ABS’ local innovation measure – identifying the number of “innovation active” businesses – dropped from 48.7% to 44.5%.
As at June 30th 2017, only one in five local businesses had ‘innovation in development’, with “marketing methods” the most common form of innovation.
Further information is available on the ABS’ website here.