Aussies are becoming increasingly savvy when it comes to online shopping, with a new report finding sales of cosmetics and fragrances online are set to boom in Australia over the next five years.
The Online Perfume and Cosmetic Sales Industry in Australia report by market researcher IBISWorld found the market is estimated to have grown at an annual rate of 17.1 per cent between 2009 and 2014. This values it at $259 million.
The growth rate is expected to plateau in coming years, with growth predicted to slow to around 9.2 per cent for the year 2014-2015.
Consumers are becoming more adept and comfortable with online shopping, as the internet increasingly becomes a customary means of purchasing products,” says IBISWorld industry analyst David Whytcross.
The study found that consumers are moving online to make perfume and cosmetics sales as many already know what they’re getting.
Major players of beauty retail in Australia, such as Priceline, Myer and David Jones, have translated their bricks-and-mortar success to online.
