Prof. Jonathan Elms from Massey University Business School shares his thought on how COVID has changed the online world, why and what retailers can do to capitalise on the new opportunities.
Record transaction levels drive 2024’s online growth
Kiwi shoppers spent over $6.09b online in 2024, 5% more than they spent online in 2023. Online grew despite tough economic conditions which saw overall retail spending down 1.7%.
What made Q4 2024 a standout season for online shopping?
Online shoppers spent $1.73 billion in Q4 2024, up 9% on Q4 2023. The quarter’s spending peak was not only higher than last year, but held up longer, adding to a strong quarterly performance.