Australians are the third biggest online shoppers in the world, and spent 38 per cent more buying products and services over the Internet than a year ago, according to new figures released today by Visa International.
Australians spent A$617.1 million in ecommerce sales using Visa cards in March 2005, up from A$446.9 million in March 2004. This puts Australia in third place of the world’s biggest online spenders by total sales volume, behind only the US and UK, and ahead of Canada and Japan. The average ecommerce transaction value in Australia was A$142.
Visa data provides a reliable indicator of consumer spending trends as cards are the preferred method of payment online, with more than 50 per cent of total online payments done using Visa credit or debit cards.
“The data is quite astonishing given Australia’s relatively small population, and confirms that we are among the leaders in embracing the Internet as a global retail channel,” said Mr. Bruce Mansfield, General Manager, Australia and New Zealand, Visa International.
“The popularity of online shopping continues to grow as more retailers offer online sales, and consumers are attracted by the convenience and the ability to access specialized products not available in the local market. Cross border sales account for about one in six of all Visa ecommerce transactions,” Mr. Mansfield said.
“Consumer confidence in using the Internet has also increased due to advances in online security and cardholder authentication measures which have significantly cut the risk of fraud.”
The number of ecommerce transactions in Australia rose by 35 percent to 4.35 million in the month of March 2005 compared with the same month a year ago. Globally, ecommerce sales in March totaled A$17.9 billion, an increase of 15 percent over February and up 42 per cent compared with a year ago. Transactions rose by 14 per cent worldwide to 145.5 million for March.
“Online sales now represent 6.6 per cent of all Visa transaction volume, up from 5.4 percent a year ago, and we expect this uptrend to continue,” Mr. Mansfield said.
