KOTRA Publishes Report to Help Domestic Companies Enter Australian E-commerce Market

KOTRA "Can Be Used as a Foothold for Domestic SMEs to Enter the Australian Market"

KOTRA Headquarters Exterior / Photo by KOTRA

[Asia Economy Reporter Kim Pyeonghwa] The Korea Trade-Investment Promotion Agency (KOTRA) announced on the 21st that it has published a report titled "Australian E-commerce Market Trends and Entry Strategies." This report contains local market trends, shopping trends, promising product categories, and entry strategy information that can assist domestic companies aiming to enter the Australian market through e-commerce.

Australia, with its vast territory and low population density, has been relatively slow in developing e-commerce; however, the long-term lockdown policies starting in 2020 led to rapid growth in the online shopping market. The Australian retail market size was AUD 323.7 billion as of last year, with the online market accounting for AUD 62.3 billion. The e-commerce ratio, which was below 10% in 2019, nearly doubled to 19.3% last year, just three years later.

KOTRA pointed out that as e-commerce becomes more active in Australia, consumer tendencies to purchase new brands from new distributors instead of existing brands may increase. This represents an opportunity for domestic companies. The growth of social commerce, led by the MZ generation (Millennials + Generation Z), is also a positive factor. In Australia, the proportion of internet users who made purchases through social commerce reached 30.3% last year, ranking third after China (46.4%) and the United States (35.9%).

KOTRA conducted an in-depth investigation in this report to help domestic small and medium-sized enterprises comprehensively understand the Australian e-commerce market and establish export strategies. The report covers ▲ Australian e-commerce consumer trends ▲ major online distribution channels and entry procedures ▲ promising consumer goods sectors for Korean products. It also includes detailed entry strategies for Australia divided into four categories: products, distribution channels, marketing, and pricing.

Choi Gyu-cheol, head of KOTRA Melbourne Trade Center, said, “Australia’s economic growth rate next year is expected to be favorable compared to other advanced countries, and the online market is expected to grow further. As Korean consumer goods gain recognition through the Korean Wave, we will expand collaborative projects with major local e-commerce platforms.” KOTRA Melbourne Trade Center is currently supporting 30 small and medium-sized enterprises this year to enter Australia’s top two online shopping platforms, eBay and Amazon.

This content was produced with the assistance of AI translation services.