6.4 million people will shop online in Australia by the end of the year, says Statista
Statista research indicates that the number of users making online purchases has been rising in recent years, showing the need for safer payment methods.
The trend of increasing online shopping is evident globally, including in Australia. The convenience of payment options and the variety of available products make this shopping method increasingly appealing, with continued growth anticipated in the coming years.
According to Statista, 6.4 million Australians are expected to shop online in 2024 only through social media. Platforms like Instagram and TikTok capture the attention of users, mostly younger audiences.
While online shopping offers numerous benefits, it places risks when not practiced responsibly, including addiction and impulsive purchases, which can lead to debts. To reduce these risks, investing in secure payment methods with spending limits is an alternative.
Growth of E-Commerce and Social Media Shopping in Australia
In Australia, the number of social media users exceeds 24 million, nearing the country’s total population. At the same time, platforms such as Instagram, TikTok, and Twitter have become essential tools for e-commerce. Many Australians, especially younger ones, are increasingly turning to social media for their shopping needs.
In e-commerce, companies utilize consumer trends to stimulate purchases, often through paid social media posts. Additionally, these platforms facilitate a more personal connection between brands and their audiences.
TikTok, which has emerged as a global phenomenon, demonstrates that short video formats for advertising can be effective when executed strategically.
Growing engagement on these platforms has also become a key strategy for getting consumer loyalty. According to social media algorithms, when a user likes, comments or shares, that content is more likely to appear in their feed.
Changes in Payment Methods
To follow the pace with the rising trend of online shopping in Australia, offering alternative payment formats has become a strategy in the sector. Consumers seek practical methods while also prioritizing security to protect their data during transactions.
One alternative gaining traction is the prepaid card, such as the Neosurf Voucher. This option establishes a spending limit and does not require personal information, ensuring both security and responsible digital purchases.
Digital wallets are also becoming increasingly attractive to consumers. Platforms like Android and Apple have integrated these options directly into their operating systems.
In addition, new payment methods are gaining popularity, from PayPal to the use of cryptocurrencies like Bitcoin. This trend reflects the demand for diverse options, making transactions more convenient and secure.
Expectations for Black Friday 2024
Black Friday in Australia is set for November 29th. With many Australians struggling with reduced purchasing power, the event is likely to be significant in their search for discounts across various products.
This year, Australian businesses are expected to roll out deals before the official date, prompting consumers to stay alert for emerging promotions. As seen in previous years, online shopping is projected to rise during Black Friday.
In this context, offering varied and secure payment methods will be crucial for businesses looking to stand out and maximize profit margins.
In general, e-commerce strategies must consider the impact of social media today. The number of digital consumers is expected to keep rising, requiring businesses to adapt to this growing pace.
