New! Make a splash in Australian eCommerce scene, receive payments in Australian Dollars!
Have you ever considered expanding your eSelling business to Australia? Now is the time to do it. With Amazon Australia opening shortly in the land down under and a well-established, healthy eCommerce market already in place, Australia presents a new opportunity for growth.
Payoneer users can now enjoy AUD receiving accounts, to make selling in Australia easier and cheaper than ever! Let’s take a look at why the Australian eCommerce market is primed and ready for an even bigger boom.
Australian eCommerce is on the rise
The Australian population stands at 24.1 million as of 2016. As an eCommerce destination, this one is definitely not one of the biggest; it’s staggeringly small compared to the US, Germany or the UK. However, there are several factors that make Australia a highly-engaged customer base:
- High internet connectivity. Over 80% of population has internet access, making it the second most connected population in the Asia-Pacific region
- Social media usage. Over 16 million Facebook users, over 4 million daily Snapchat active users
- Mobile device penetration. Over 16 million mobile users
- Healthy, strong economy. GDP of $1.2 trillion in 2016, representing about 2% of the world economy
In 2017, an approximate AU $32.56 bn were spent online, the equivalent of around US $26 bn. Ecommerce sales have grown approximately 21% since 2013, and are expected to continue a rapid growth pace in the coming years.
What do Australians buy online?
According to a 2016 report by Nielsen, nearly all connected Australians have made some sort of purchase online. About 25% of Australians shop online at least once a week.
Nielsen also reports that the most commonly shopped for items online by Australians are clothing, shoes and accessories.
Due to its geographic limitations, Australia’s eCommerce market is currently dominated by cross-border purchases. According to some estimated, approximately 70% of Australian digital buyers make cross-border purchases. The Australian government offers a tax exemption on purchases made abroad capped at AU $1,000 (US ~$800), enabling locals to shop abroad comfortably. While this may make it easier for Australians to import their own products from abroad, it leaves a wide-open opportunity to develop the internal eCommerce market in Australian territory.
Click Frenzy – the Australian Black Friday
Click Frenzy, Australia’s unique shopping holiday, was born in 2012. Click Frenzy falls on the 3rd Tuesday in November and marks a massive shopping holiday ahead of Black Friday and Christmas. This year, it is estimated that Australians will spend upwards of AU $110 million on Click Frenzy day, enjoying more than 1,500 sale offerings on 200 retail brands.
Amazon Australia – opening its doors to international sellers
At current, the leading retail site for Australian shoppers is eBay Australia, by a large margin.
Amazon is looking to break into the Australian market on a local level, opening the digital doors to its Australian domain as soon as the coming months. This timely launch will give sellers the opportunity to get a piece of the lucrative holiday season shopping boom.
Payoneer makes it even easier for eSellers to get paid
Are you ready to break in to the Australian market? Payoneer’s about to make it even easier for you.
Starting November 2017, Payoneer will begin rolling out AUD receiving accounts for Payoneer users. Would you like to start receiving AUD directly to My Account? Request an account below!
What does this mean for you? Get paid in AUD by Amazon Australia or other Australian marketplaces, and withdraw the funds directly to your local bank account in your local currency; enjoy low conversion fees and easy access to your funds.
Payoneer already offers its users receiving accounts for USD, EUR, GBP, JPY and CNH, enabling sellers to do business easily on marketplaces around the globe.