After years of complaints about Australians shopping offshore, local online retailers are now enjoying a little boom thanks to a falling dollar drawing international shoppers in for a bargain.
New data from payments company eWay shows that as the Aussie dollar has tracked down over the past year, international deliveries increased by almost 30% in the 12 months to March 31.
Company founder and CEO Matt Bullock said: “With the Australian dollar down substantially on this time last year, the dollar value of physical purchases sent to international postcodes is up almost 30%. There is a clear window of opportunity for small businesses to open up their offering to global markets, if they are not already. The increasingly sophisticated and cheap postage services make this more feasible than ever.”
This chart shows the growth in international deliveries.
While Australia’s ecommerce sector has grown year-on-year, total spend in the first quarter fell 6.9%.
According to eWay, total online transaction spend in Australia was $AU4.37 billion between January and March this year and while that was up from the $AU3.6 billion clocked the corresponding quarter a year earlier, it was down quarter-on-quarter.
This chart shows the year-on-year growth and fall off in the last quarter.