New research suggests online shopping will continue to grow rapidly in Australia and New Zealand as both markets show signs of maturing.
In its Australian and New Zealand Online Shopping Market 2013 report, based on a survey of 1,200 customers from both countries, Frost & Sullivan predicted that online spending in these territories will rise during 2013 and make up an increased percentage of total retail sales.
Citing figures from the report, zdnet.com claims online spending in Australia will hit AU$18 billion (£11 billion) this year and will make up seven per cent of the country’s total retail sales. This is expected to rise at an annual rate of 13.1 per cent over the next five years.
In New Zealand ecommerce is expected to account for the same percentage of all products sold, with total online spending hitting NZ$3.65 billion (£1.9 billion) in 2013.
Companies that offer online payment processing services and delivery to people in New Zealand will be pleased to hear that 85 per cent of the country’s online shoppers expect to increase or at least maintain their spending over the next year, according to the report.
Not only this, Frost & Sullivan said 54 per cent of New Zealanders who shop online purchase goods from international retailers, meaning overseas stores always have a good chance of cracking the market.
Phil Harpur, Frost & Sullivan senior research manager for Australia and New Zealand, went on to tell wsav.com: “Overseas retailers have been actively targeting the New Zealand market over the last couple of years.
“This has increased the overall level of competition in the local online retail market. Local retail chains have also stepped up their online activity, creating increased awareness amongst consumers and increased media coverage of online shopping.”