Posted July 14, 2018 01:01:22 It’s not uncommon to hear that the majority of Australians are unhappy with their internet experience, but the latest data shows that many Australians are even less satisfied with their online shopping experience than they were a year ago.
In 2017, consumer spending in Australia was up 7.7 per cent on the year, according to a report by the Australian Consumer Action Centre.
That is well above the 6.9 per cent annual growth in spending for 2016, according the Centre.
But consumer spending was down 4.1 per cent in 2018 compared to the same year a year earlier.
This is a big drop in spending compared to where we were a decade ago, when spending was up 6.6 per cent.
But consumer spending is a good indicator of the overall economic health of the economy, according a spokeswoman for the Australian Council of Trade Unions.
“The Australian consumer is experiencing a number of challenging times and there is growing concern about the economic outlook and the direction in which the economy is headed,” Ms Tingle said.
“Many people want to be able to take control of their shopping and to make better decisions.”
It’s also about balancing out the risks associated with buying online, but consumers are feeling increasingly squeezed by the high cost of goods and services.
“What’s behind the drop in consumer spending?
The Centre has found that while most Australians are happy with the quality of the internet, there are still significant gaps in how much people spend.”
Ms Whelans research found Australians spent more than double what they did in 2016, and more than three times more on the internet than they did a decade earlier.””
In 2017 about two-thirds of people said they were satisfied with the service and the quality and the prices of goods online, and the other third was unsatisfied.”
Ms Whelans research found Australians spent more than double what they did in 2016, and more than three times more on the internet than they did a decade earlier.
“There’s a disconnect between the value that people perceive and the value they actually receive,” Ms Nardone said.
She said the issue was even more pronounced among younger consumers.
“We know from previous studies that for older consumers it’s about the same amount of money they spent in the previous year, but they’ve got a much longer gap between the amount they spent and what they’ve spent in a year,” Ms Molloy said.
Consumer spending has also been falling among people aged under 25.
This data is also worrying for a number people who might be tempted to spend on an online platform, especially if they’re going to spend a lot on mobile phones.
“They may be tempted by the promise of an online shopping app, but if you’re a millennial it’s a really big risk,” Ms Raine said.