Boxing Day online spending on Australia’s largest annual sales day could reach USD 221.21 million. This would be three times more than average online sales on any other day of the year with payment cards remaining the preferred method of payment for Australian shoppers.
GlobalData estimates that over 40% of this year’s Boxing Day online sales will be transacted through cards. Alternative payment methods have already gained wide acceptance on the back of rising consumer preference for more convenient methods of payment.
Retailers integrate their loyalty programmes with mobile wallets, so digital wallets are likely to continue to gain market share. PayPal alone could capture one fifth of this year’s Boxing Day online payment transactions.
Apple Pay is expected to capture a relatively small share. Three of the four major Australian banks – Commonwealth Bank, National Australia Bank, and Westpac – have announced a joint partnership to develop their own mobile wallet, Beem.
The only major player in Australia currently working with Apple Pay is ANZ, which could hamper Apple Pay’s chances of making inroads in this year’s Boxing Day Sales.
In terms of devices used for online shopping, while desktops and laptops will remain the preferred channels, their share will continue to decline as more people are expected to shop using mobile devices.
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