Insights from the 2024 Auspost eCommerce Report that can boost business
The 2023 Australia Post e-Commerce report has just been published. With a lot of up-to-date transaction data from Commbank IQ, it's one of the best sources of online shopping data in Australia.
Key takeaways:
$63.8 billion was spent online shopping last year. Online share of total retail spend to 18.1% (down from 19.3% in 2021) - We're past the post-covid boom for pure-play online retailers (-7% growth) with growth in 2022 coming from bricks & clicks retailers (+7% since 2019). With economic uncertainty only continuing in 2023, brands will need to focus on innovation and customer retention to drive growth (the report talks about Loyalty and Sustainability as growth areas to consider)
The key shopping segment is Australia defined as 'Super Shoppers' (16% of total shoppers) account for over HALF of all online sales - For these shoppers, CONVENIENCE (save me time) & FAST DELIVERY are non-negotiable (even more important than free delivery) - In recent research by Nugget Digital, we noted only 32% of consumer tech brands in Australia offered standard delivery within 7 days (+++ opportunity to still meet customers expectations on delivery & returns)
Specialty retailers like variety stores & pet products have seen the largest growth year-on-year. Pet products in particular increased 21% year on year - clearly, all the overpriced Cavoodles sold during Covid (yep, we were one of those) need a lot of pet supplies!
#ecommerce #ecommercetrends #auspost