This year, the Australian ecommerce market is projected to increase by 13.4%.
GlobalData’s numbers suggest that the Australian online retail industry will generate a revenue of $77.1 billion by 2024, and exceed the US$70 billion mark by 2025. Still, this growth comes at the cost of scammers keeping an eye on Aussie shoppers.
According to the latest GlobalData report on the ecommerce market in Oz, the COVID-19 pandemic is the one responsible for the 16.8% jump in ecommerce spending, reaching $53.5 billion in 2020. Similarly, the spending grew by approximately 13.4% to hit $60.6 billion in 2021.
Expectedly, this increase was caused by changes in shoppers’ behaviour, driving them to buy retail products online. Per GlobalData, the top five sectors that Australians spent the most on were food and drinks, gambling services, adult services, health and beauty, and digital content.
As for the most popular payment methods, payment cards made up 37.2% of the total ecommerce sales in the country. On the other hand, 43.3% of sales were paid for with PayPal, Afterpay, and Apple Pay, with Afterpay accounting for 7.7% of the overall ecommerce sales in 2021.
Unfortunately, the increased online shopping led to increases in scamming activities. In 2020, 40% of the crime reports to the Australian Cyber Security Centre were about fraud. This year, the most recent ScamWatch stats recorded an average of 5108 monthly scam cases. What’s more, scam victims have lost $211 million so far, a dramatic 89% rise in comparison to 2020.
NordVPN’s expert on digital privacy, Daniel Markuson, advises online shoppers to use HTTPS websites and stay careful of shortened URLs.