Australia Profile: Debit Card Dominate Cashless Digital Shoppers

13 Nov, 2020 . 4 minutes

Australia's population was 24.6 million as of end-2019. The 18-years to 36-years age group makes up 26 percent of the population. A growing youth population adopts a variety of ecommerce techniques and helps the average online spend in Australia to US$1,644 per year. The annual ecommerce market is US$33.1 billion. Internet penetration in Australia roses to 87.8 percent in 2019. Smartphone penetration is 68 percent and has helped the mobile commerce market to reach US$8.3 billion. The CAGR is predicted to rise quickly by 2021 to around US$16.6 billion or up to 19 percent, according to pre-Covid-19 data).

Cards are still the primary means to pay online and are used in 52 percent of transactions worth US$17.2 billion. Debit card circulation is at 1.9 per capita compared with credit cards at 0.68 per capita.

The majority of Australia's online shoppers buy commodities from overseas and cross-border ecommerce, mostly from China, the US and Japan. Meanwhile, for the domestic market the biggest month for Australia’s ecommerce is supported by four discounting events: Black Friday, Cyber Monday, Click Frenzy and Cyber Monday.

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