Aussies have quickly adapted to shopping online during the COVID-19 lockdown. As we were told to stay at home, ecommerce, unsurprisingly boomed.
During the pandemic, PayPal Australia recorded the strongest monthly results in the company’s history, with the highest number of transactions and largest total value of payments ever processed, in April.
This leap in online shopping is set to have lasting impacts and has accelerated Australia’s shift to become a cashless society by up to 5 years.
Now, over 8 million Australians have an active PayPal account, which is almost a third of the population.
Australian small businesses have also benefited from this increase in users, as there has been a 54% rise in sales processed by small businesses on the PayPal platform during COVID-19 restrictions.
“A lot of people and businesses have been hit hard by the pandemic and our thoughts go out to them,” says PayPal Australia’s resident Shopping Expert, Danielle Grant.
“At PayPal we’re lucky to provide ecommerce services which have been vital during this time. It makes us proud that we’ve been able to help millions of Aussies get their essential items online quickly and safely during COVID-19.
“Although some may go back to their shopping habits post-pandemic, an increased use of ecommerce will be the new normal in Australia.”
One in three people who began online grocery shopping during the pandemic say that they will continue to do so after restrictions are lifted.
Additional PayPal research shows a 66% lift in Australian consumer willingness to buy when PayPal is an available option at checkout.
Unfortunately, increased numbers online during COVID-19 has resulted in a rise in fraudulent and scam activity. The Australian Competition and Consumer Commission (ACCC) recently revealed that the number of scams since the pandemic began is now over 2000, resulting in $700,000 reported in losses.
“While Gen Z and Gen Y have traditionally driven the growing trend of online shopping, social distancing restrictions have meant many mature Australians have had to adapt and start shopping online for the first time,” explains Ms Grant.
“Sadly though, scammers around the world have used the pandemic as an opportunity to prey on people who may not be as familiar with online shopping.
“These scammers are using public panic and confusion to maximise the effectiveness of their attacks and many of them are very convincing.
“Fortunately, Australians are becoming increasingly wary of these cyber-attacks and are looking to trusted services like PayPal to help them navigate shopping safely online.”