2024 broke new eCommerce records, with 9.8 million households spending more than $69 billion online.
While it was a challenging year for many businesses, growth was led by three key factors:
93% of Australians were concerned about the rising cost of living. This sent people online in a search for value, so online spend grew more than in-store.
Online Marketplaces alone drove 39% of online spend growth in 2024, attracting $16 billion online spend.
Older generations drove spend growth: Baby Boomers’ online spend was up 17.6% and Builders up 22.9% YoY.
85% of shoppers across all generations say a reliable delivery experience will be the most important factor in trusting online retailers in the next 5 years.
8 in 10 shoppers say the delivery experience contributes to their satisfaction with online shopping.
56% of Gen Zs and 45% of Millennials would switch retailers to access out-of-home collection points.
56% of shoppers rate free delivery as their top delivery preference.
For 65% of shoppers, friction-free returns contribute to a great online shopping experience.
Three-quarters of Gen Zs and Millennials intend to shop online more in the coming years.
The future of eCommerce is about meeting the needs of future shoppers, who say they want personalised experiences, sustainable recommerce options and fast delivery.
61% of Gen Zs, 62% of Millennials and 56% of Gen Xs want online retailers to provide more personalised sale offers in the future.
65% of Gen Zs and Millennials intend to buy more second-hand goods in the next 5 years.
Gen Zs, Millennials and Gen Xs consider fast delivery as the ideal feature of future delivery experience.
Three-quarters of parents believe their Gen Alpha kids will shop online more than in-store.
