Australia’s online shopping announced as top five growth industry in 2012

Changes in technology and the way Australians spend, read and learn will be key factors determining which industries will fly and which will fall in 2012. IBISWorld has just announced the top five growth industries in 2012, with ‘Online Shopping’ being on this list (along with Diamond and Gemstone Mining, Motor Vehicle Manufacturing, Online Education and Biotechnology).

While many bricks-and-mortar retailers reported a tough year in 2011, Australia’s burgeoning online shopping industry has gone from strength to strength. IBISWorld expects this to continue in 2012, forecasting growth of 10.2% to reach revenue of $10.4 billion – representing about 5% of the total retail sector.

The industry experienced significant growth over the past five years, as consumers became more comfortable with shopping online, and as more major retailers launched online stores. Computer and electrical items are the most common online purchases.

Although computer and electrical goods are the largest online product segment, food and liquor sales are quickly catching up. In 2012, growth in online food and liquor sales will be boosted by Woolworths, Coles and Aldi all releasing smartphone apps in late 2011.

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