Online retail in Australia is expected to rise this year, with much of the business going to international merchants.
A report by eMarketer forecasts a whopping 70 percent of Australians will buy their goods online by the end of 2012, but shops within the nation don’t have enough online momentum to keep up with this increase. Meanwhile, retailers in the U.S. and U.K. have tapped into the Aussie market.
“U.S. retailers have already targeted Australia, but there is plenty of room for expansion,” says Jeffrey Grau, principle analyst at eMarketer. “Besides sharing linguistic and cultural affinities, Australia does not require duty on imports under AU$1,000 ($1,031). Plus, the strength of the Australian dollar further adds to the attractiveness of this market.”
Last year, Australians spent $10.5 billion online. That number is expected to increase to $13 billion this year.