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Amazon has overtaken eBay to become Australia’s leading marketplace, according to new research from global e-commerce accelerator Pattern, an industry first.
Research shows that 93% of people will shop on the market in 2023, and 94% plan to buy from platforms such as Amazon, Catch, Temu and eBay in the next year. Emerging platforms Temu and Shein quickly gained huge market shares, while established platforms Catch and eBay performed poorly in 2023. Amazon has grown to dominate the local market, with Australian sales expected to hit $5.5 billion this financial year.
Amazon is expected to have the highest growth rate in 2024, with 63% of Australians planning to buy from the site. The e-commerce market is expected to reach A$64.14 billion, and consumer shopping habits will be affected by cost of living pressures, but the share of retail goods purchased online is expected to continue to increase.
(Source: retailnews Image source: unsplash)
