A new study by the Commonwealth Bank has found that 90 per cent of Australians who shop online interact with three or less brands and while many retailers are increasing their spend on tech (43 per cent), only 11 per cent are increasing their investment in mobile.
The report, titled Comm Bank Retail Insights, was based on the data of 500 local retailers and some $3 billion worth of online spend. You can read the full report here.
Commenting on the study, CBA’s national manager, retail industry, business and private banking, Jerry Macey, said: “The Australian mobile and online retail market remains relatively immature, skewed towards the under-30s, with ample scope for future growth. That means there are still opportunities for retailers to benefit from a growing market, even if they have been relatively slow to establish a strong online presence.
“At the same time, online shopping behaviour is evolving. Despite more customers purchasing online than one year ago, the number of transactions each makes is declining – whilst the basket size is growing,” he said.
Can’t be bothered wading through the 26-page report? Fear not, it’s all been condensed down into this handy infographic too. The infographic was created by Octos.