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Australia Ecommerce Market Databook 2023: Gross Merchandise Value (GMV) will Increase from $49.4 Billion in 2022 to Reach $68.8 Billion by 2027DUBLIN, Jan. 25, 2024 /PRNewswire/ -- The "Australia Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics - Q2 2023 Update" report has been added to ResearchAndMarkets.com's offering. Ecommerce market in Australia is expected to grow by 7.84% on annual basis to reach US$53.2 billion in 2023. The Ecommerce is expected to grow steadily over the forecast period, recording a CAGR of 6.64% during 2023-2027. The Ecommerce gross merchandise value in the country will increase from US$49.4 billion in 2022 to reach US$68.8 billion by 2027. Rising interest rates will the foremost factor that will result in a decline in consumer spending in H1 2023. Furthermore, tighter household budgets will lead to more price-sensitive consumers in Australia. This will lead to a significant shift in consumer behavior, as more and more consumers will turn to marketplaces that offer better value for their purchases. For smaller retailers seeking to drive their revenue in the highly competitive Australian Ecommerce industry, they will have to partner with dominant marketplaces such as Amazon, which is gaining more market share from other players, including eBay. In December 2022, YourGrocer, the domestic delivery service provider, announced that the firm is closing operations in Australia. Being battered by rising petrol and food prices, higher interest rates, and investor skepticism, informed the customers that it will no longer deliver their orders starting December 16th. Before YourGrocer, United Kingdom-based Deliveroo also announced that the firm is closing operations in Australia, owing to increasing competition faced from firms like Uber Eats and DoorDash. Deliveroo announced that it cannot reach sustainable profitability in the Australian market without making any significant investment. However, with the firm already reporting heavy net losses and Australia counting for only 3% of its total revenue, Deliveroo decided to exit the market as part of its cost-cutting strategy. Revenues for other firms have been also affected significantly in 2022. Players such as Milkrun are announcing new product launches as they seek to drive more revenue for their business. From the short to medium-term perspective, the publisher expects the food and grocery delivery segment to remain subdued in Australia, as firms continue to face macroeconomic challenges. In December 2022, HealthyLife, an independently operated firm under Woolworths Group, announced that the firm had extended its alliance with SuperPharmacy, which has been the Group's partner since 2021. The partnership will enable HealthyLife to access warehouse assets offered by SuperPharmacy, and in turn, will provide Ecommerce services and platforms. From the short to medium-term perspective, the publisher expects more such strategic collaboration in the Australian Ecommerce market, thereby providing growth support to the industry over the next three to four years. Scope Australia Ecommerce Market Share by Key Players
Australia Ecommerce Market Size and Future Growth Dynamics
Australia User Statistics and Ratios of Key Performance Indicators
Australia Ecommerce Market Size and Forecast by Ecommerce Segments (Gross Merchandise Value Trend Analysis, 2018-2027)
Australia Ecommerce Market Size and Forecast by Retail Shopping Sales Channel
Australia Ecommerce Market Share by Travel and Hospitality Sales Channel
Australia Ecommerce Market Size and Forecast by Online Food Service Sales Channel
Australia Ecommerce Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2018-2027)
Australia Ecommerce Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis, 2018-2027)
Australia Ecommerce Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis, 2018-2027)
Australia Ecommerce Market Size and Forecast by Operating System
Australia Ecommerce Market Size and Forecast by City
Australia Ecommerce Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2018-2027)
Australia Ecommerce Consumer Demographics
For more information about this report visit https://www.researchandmarkets.com/r/u6j9x1 About ResearchAndMarkets.com Media Contact: Research and Markets Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
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