The traditional retailers might not like it, but we’re increasingly becoming a nation of online shoppers. According to PayPal, a nation of extremely big spending online shoppers.
The news that we shop more online than we used to isn’t exactly news in any real sense of the word, but the figures that PayPal’s throwing around in its latest report on make for interesting reading. It’s had to adjust its forecast for quite how large the Australian online market will be by 2013; it currently believes that the market will be worth a hefty $37.7 billion by 2013, an increase over a billion dollars since the last time estimates were prepared a year ago.
We’re also all becoming a nation of smartphone shoppers; the report notes that the smartphone market accounts for 65 per cent of the Australian market, and that PayPal’s seen a rise in mobile payments up 430 per cent year on year.
One interesting quirk that I’m a little surprised that PayPal left in the research; we’re apparently a little frustrated with the lack of payment options when it comes to online shopping. Like, say, being restricted to using the not-always-popular PayPal?
BenDTU
Tuesday, October 18, 2011 at 10:37 AMI’m more frustrated if I don’t have the option of PayPal.
Taufiq
Tuesday, October 18, 2011 at 11:21 AMAgreed
light487
Tuesday, October 18, 2011 at 10:39 AMWell it just makes sense.. everything is cheaper online and in some cases it is actually easier to get the items you want rather than compromising.
Take AppliancesOnline for example. I got my fridge and washing machine through them and got them much cheaper than all of the other retailers available, including free delivery and connection. The best Bing Lee Online could do was match the price but could not match the free delivery.
Prepaidplans
Tuesday, October 18, 2011 at 10:46 AMIt will grow even faster when more smart phones have the EWallet feature. Yep many purchases are cheaper online. Payal is an interesting one. Certainly gives small operators an easy payment gateway to launch with.
Drew
Tuesday, October 18, 2011 at 11:31 AMI hate PayPal, they are a pack of scum bags.
I just use my Mastercard for online purchases, much easier to deal with banks and credit card companies than PayPal when things go wrong.
cdjf
Tuesday, October 18, 2011 at 2:07 PMSame.
If something goes wrong, all you get from PayPal is an email with a bunch of generic “we-feel-your-pain” paragraphs and a laughable excuse for not doing anything.
Sicarius123
Tuesday, October 18, 2011 at 11:35 AMI’d much prefer to pay direct with credit card. My disputes on my credit card have always gone smoothly.
I have had my paypal account hacked, the dispute process and refund took a fairly decent length of time, and the eventual refund was to my paypal account, meaning I had to pay paypal a percentage to get my stolen money back!
Will
Tuesday, October 18, 2011 at 11:51 AMOnline is obviously better for price, range and convenience. I make 90% of my purchases online, however I think that postage in Australia could be better. Especially Australia Post
smurfydog
Tuesday, October 18, 2011 at 4:20 PMI don’t mind paying a little more for Aussie Post as it’s the only way I can have things delivered to my PO Box. Of course, cheaper would be better, but I prefer the convenience.
I wish it was available as an option at more online retailers.
AJ
Tuesday, October 18, 2011 at 12:11 PMWhat online retail store would you guys recommend? For electronics etc..
James
Tuesday, October 18, 2011 at 12:45 PMWell of course Aussies pay for most tech online!
When you look at data like this:
I was looking at buying the Logitech G930 headset. Well, I was but I discovered this.
(Prices taken from both AU & US Websites)
Australian Site Price RRP: $279.95
American Site Price RRP: $119.99
Price Difference: $159.96
To my knowledge the AUD:USD currency ratio is roughly 1:1
Yet I’m stuck paying over double the price for the exact same product.
I LIKE the product, I want to buy the product, but being told to pay more than double the price as the other guy just plain sucks, In any way shape or form.
So obviously I’m going to try buy tech online, as I’ll save myself over %50 on electronics.
But is it so hard to have an internet wide price and just pay differences in shipping?
Stew
Tuesday, October 18, 2011 at 3:02 PMAgreed. Canon D10 is US$299 or AU$599. They’re not even trying to hide it.
Norgan
Tuesday, October 18, 2011 at 12:55 PMi’ve been ripped off twice by PayPal and refuse to use them. Their t’s and c’s need to be over ridden by our Trade Practises Act. The rulings they make are beyond their expertise and are not fit to rule on many cases.
Much rather deal direct via CC and use the law to dispute sales.
Aside from that i find that Australian retail is sucky at best, this is why consumers are flocking in droves to online shopping.
When international distributors finally realise that we cannot be milked any longer they will start setting more accurate wholesale pricing and maybe retail will be viable again.
Until then i will continue to buy the vast majority of my stuff online and support local speciality shops where i can so that they are still there when i need them :)
wardski
Tuesday, October 18, 2011 at 1:03 PMAny wonder, I mean when Westfield decides to charge for parking, FU Westfield.. I’d go online everyday of the week and twice on Sundays for most items, especially shoes – http://www.eastbay.com FTW!!
Womp
Tuesday, October 18, 2011 at 5:15 PM+1
Westfield, and everyone else charging for parking, can go to hell; and I really don´t want to hear their whinging when their own greed costs them customers and sends them out of business.
Pete
Tuesday, October 18, 2011 at 2:30 PMImagine how many more people would use PayPal in Australia if they actually accepted American Express as a payment option.
Sicarius123
Tuesday, October 18, 2011 at 3:04 PMI think American Express buyer protection is too strong. Paypal only want to deal with companies who wont dispute the payments due to the fact you have “authorised” them to take money out.
Zengster
Tuesday, October 18, 2011 at 4:45 PMIt’s not our fault retailers sell everything at ridiculous prices.
Anthony
Wednesday, October 19, 2011 at 12:40 AMPass the low AUD savings onto the consumer. I wouldn’t care about paying an sxtra $10 – $20 if i can have the item now. I mean, really, how pathetic is it.
I think it’s just businesses don’t want to put in the hard work of selling higher volume, for lower cost to make the same money that they were making 5 years ago. however, times change, if you want to compete, you need to have a large stock turn over.