Debit Card Dominate Cashless Digital Shoppers
Australia had an estimated population of 25,499,884 as of the middle of 2020, according to UN data. Based on Worldometer elaboration of the latest UN data in 2021, the country had a population of 25,690,485, with 85.9% living in urban areas, mainly in Sydney. The median age of the population was 37.9 years.
The average annual revenue per paying user in Australia was $1,935 in 2020, according to the PPRO APAC Report. Most cross-border e-commerce purchases by Australians are of products from China and the United States, followed by the United Kingdom.
Most Australian shoppers preferred to pay by card (53%), followed by e-wallets, bank transfers, cash and other payment methods. For cashless payments, the biggest player was Visa (60%) followed by MasterCard Amex and other services, according to 2020 PPRO APAC.
According to IMF data, Australia had a gross domestic product of $1.39 trillion in 2019, which declined to $1.33 trillion in 2020 due to the pandemic. As the economy continues to recover, the GDP is expected to expand to about $1.48 trillion in 2021.
Internet & mobile phone trends
Current data on the percentage of internet users by age group in Australia is not available. However, according to Statista, 3.76 million of an unknown total of respondents in a survey conducted in December 2019 were aged between 25 and 34 years. According to Datareportal, there were 22.82 million internet users in January 2021. Internet penetration in Australia stood at 89 percent in January 2021, according to the same source. Meanwhile, smartphone penetration stood at 84 percent by the end of 2020, according to the PPRO APAC Report.
According to data compiled by PPRO APAC, 100% of Australians had bank accounts in 2020, with 60% of them credit card holders.