Aussies keen to buy now, pay later, as online marketplaces record “booming” growth
Buy now, pay later services are boosting the already booming online retail market.
Total Australian online shopping purchases soared to a record $21.3 billion last year, with ‘buy now, pay later’ services gaining increasing traction with consumers, according to new Australia Post research.
Australia Post’s Inside Australian Online Shopping report reveals online shopping spending grew 18.7% year-on-year, outpacing traditional retail by 16.2 percentage points, and reaching 8% of total traditional retail sales, while local retailers accounted for more than 80% of total online spend.
Total purchases grew 19.2%
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