Online Spending to Triple This Christmas

IBISWorld predicts that online shopping in the country would triple this Christmas season. The business information analysis group said overall consumer spending would increase by 3.9 percent.

Karen Dobie said the growth would come from online sales. An Aussie spends an average of $1600 per year. This year, IBISWorld expects total spending to reach $28.5 billion.

Dobie is the general manager of IBISWorld.

Dobie added that online retail has been on the rise and is likely to grow faster than other retail segments. The company predicts about 35 percent growth in online retail. In December 2010 and 2011, online retail growth was only at single-digit pace.

Liquor retail is also expected to grow higher than last year’s 11 percent. Electronics is also seen to increase close to eight percent. Dobie said shoes, travel, clothing and electronics are likely to be the most popular online purchases.

Google Australia echoes the sentiments of IBISWorld. The tech giant said 2012 is most likely to be the country’s biggest online Christmas yet.

Google said shopping-related searches in Australia increased 20 percent as more Aussies go online to research on gifts, place orders, or look for online retail shops.

Physical stores are also beefing up their online sites to accommodate shoppers who prefer to browse and buy online.