Consumer Attitudes & Online Retail Dynamics in Australia02 Sep 2011 • by Natalie Aster
Australian retail spending suffered a temporary setback in late 2010 and early 2011 due to the floods and Cyclone Yasi which affected Queensland and Victoria. The series of natural disasters in Australia led to an increase in inflation. Retail spending is also expected to be affected by the strengthening Australian dollar, as foreign imports and travelling have become more popular among the Australian population. However, a strong rebound is expected, driven by increased consumer confidence and strong labor conditions. ICD forecasts that per capita retail expenditure will grow at a compound annual growth rate (CAGR) of 4.03% during 2010–2015.
The Australian online retail market is, however, expected to perform relatively better, and it is forecasted to grow at a CAGR of 13.42% during 2010–2015. One of the main drivers of this growth is increasing internet and smart phone penetration in Australia. The growing consumer demand for online retail in the country has adversely affected traditional retail sales, with high-street retailers such as Harvey Norman and Target registering heavy declines in customer footfall and revenues.
The report “Consumer Attitudes & Online Retail Dynamics in Australia” by iCD Research provides in-depth analysis of the latest trends in online consumer shopping, covering drivers of online shopping, consumer insights, market dynamics (covering 25 product categories) and reviews of latest best practice in online retail site design.
Figure 2: Total Internet Users and Penetration (millions), 2005–2010
Source: World Bank Development Indicators and ICD Research analysis / © ICD Research
As of 2010, Australia’s internet penetration was 72.9%. Australia currently ranks ninth in the Digital Economy Rankings, which indicates a high level of digital acceptance in the country. The amount of internet users grew at a modest pace during 2005–2010, with a CAGR of 4.68%. The amount of time spent online by the average Australian is increasing at a rapid pace. Over 58% of the population access the internet on a daily basis, spending more than 20 hours a month online. This increase in online users and their time spent online has led to an increase in online consumers and online retail expenditure.
Published: August, 2011
Price: US$ 1,950.00
The report provides core insights into consumer behavior and highlights the latest online trends and their impact on online product sales. Core data sets give both historical contexts and a view into the future, allowing marketers to update their strategic planning and fill gaps in their knowledge about this rapidly evolving channel. By examining best practice from leading national large-scale online retailers, as well as reviewing innovative approaches from smaller players, the report also provides insights and ideas about how best to approach growing online sales for your business.
- Understand the consumer behavior and online trends in Australia; along with which products (of 25 different categories) will be the major winners and losers in the coming years;
- Improve market and strategic planning using highly granular, forward-looking market data;
- Learn from best practice approaches outlined in the case studies of leading online retailers;
- This report provides the magnitude, growth, share and dynamics of the online retail market;
- Core data sets give both historical contexts and a view into the future – providing data from 2005 through to 2015;
- By examining best practice from leading national online retailers, the report also provides insights and ideas about how best to approach growing online sales for your business.
More information can be found in the report “Consumer Attitudes & Online Retail Dynamics in Australia” by iCD Research.
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