The global e-commerce industry is a multi-trillion dollar investment that is becoming a major trend in many countries. In Australia, the e-commerce industry is gaining significant pace as far as preference and dominance are concerned. Valued at over $21 billion in 2017, the e-commerce industry in the country is anticipated to undergo major growth changes this year.
Among the notable anticipated growths that the industry will experience in 2019 includes a 19.2% rate of growth across all regions in Australia. This is expected to be accompanied by much interest and preference in the e-commerce industry among Australians. The number of customers expressing a preference for online shopping malls as well as the number of investors will, therefore, be expected to grow in response to the increased uptake of the e-commerce concept.
According to statistical projections, this year will see more Australian e-commerce businesses achieve over 15.1% growth in their revenue. This growth will be realized even as the investments in the e-commerce industry continues to grow as far as establishing new e-commerce businesses and improved marketing initiatives dominate the industry. Projections indicate that the number of online shoppers will grow to reach over 20.3 million, a 5% growth from 2018.
This year is also expected to experience a boost in terms of the modes of payment that customers use when e-shopping. For a long time, over 47% of online shoppers in Australia have been using credit cards. 2019 is expected to have more Australian e-shoppers use alternative payment options such as mobile-mediated payment solutions and third-party payment systems.
The concept of international shopping traditions such as Black Friday and Cyber Monday are expected to be adopted more this year. Last year, there was a 28% growth in online shopping during the designated shopping traditions in the country. This year, analysts expect over a 41% increase in the adoption and purchasing habits among Australians using e-shopping locally.
Lastly, social media and mobile phones are expected to mediate more of all e-commerce activities. E-commerce companies are expected to optimize their platforms for mobile accessibility by developing appropriate mobile apps. The use of social media for e-commerce advertisements is also expected to dominate much of the e-commerce companies’ bid to penetrate more of the market.