Is Online Shopping Still a Trend in 2024?

It is not uncommon nowadays to order products online. Chances are that you may have even ordered something online today, whether clothes, home appliances, or your favourite brand of coffee, or are in the process of ‘adding to cart’ as we speak!

But what exactly is the genesis of online shopping? The first mention of online shopping can be traced back to 1979, when Michael Aldrich, an English scientist, connected a computer to a telephone line, effectively creating a system that would later become the very backbone of online shopping.

A grandmother named Jane Snowball, would later, with only her remote control place an order for margarine, cornflakes, and eggs to the local Tesco using a computer technology called Videotex, invented by Michael Aldrich. And thus began the first home online shop!

Four years later, the Boston Computer Exchange, considered by most as the first online marketplace was formed.

But it was only later in the 1990s, with the advent of the World Wide Web which allowed everyday users access to the internet, that online shopping took shape.

With this invention, it was only natural that online shopping takes form. In 1994, Amazon was formed, later followed by eBay in 1995, and the groundbreaking online payment system Paypal in 1998. From then on, it has been an upward trajectory story, with online global sales revenue.

Origin of Online Shopping in Australia

Online shopping in Australia began in the mid-1990s with the formation of the online e-commerce company Sitezero, a CD e-tailer. However, uptake to online shopping in Australia was initially very slow due to privacy concerns. By 1998 only 2.7% of Australians had made online purchases. In 2001, the Australian government attempted to boost e-commerce penetration by offering USD 6.64 to B2B projects over five years. Online shopping has however continued to grow down under with Australians spending a record $3.8B online in November 2023.

Online_shopping_from_your_home — Shopping and paying online has now become a trend: Pexels

So now begs the question; is online shopping still a trend in 2024? Definitely yes. Online shopping is continuing to grow and will keep on being a trend. Here are a few reasons why:

The Aftermath of the Pandemic

In 2020, and most of 2021, we saw the emergence of the COVID-19 pandemic, which forced people to adjust to online shopping due to restrictions. In 2020 alone, e-commerce sales shot by a record 43% in the US alone. In Australia, businesses saw unprecedented sales, with stock shortages being experienced due to the upshot of orders.

“In April alone we saw over 200,000 new online shoppers enter the market, and a million more people overall shopping online every week when compared to the average in 2019,” Ben Franzi, Australia Post General Manager Parcel and Express Services said. The average Aussie now spends $208 online per week.

Experts predict that the shift from bricks to clicks to be permanent.

Innovation

Online shopping has grown in leaps and bounds since its inception. Experts are projecting that in 2024 alone, online sales will account for 21.2% of online retail sales.

Innovations like digital wallets, voice search, social commerce, green commerce, and Buy Now Pay Later (BNPL) have revolutionized the online shopping experience. Beyond the simple click and pay, these technologies, and others contribute to comfort, peace of mind, and effectiveness in the online shopping experience. Coupled with other emerging technologies like artificial intelligence, we are bound to see a continued shift towards the digital marketplace, and more people engaged in online shopping.

Connectivity

Online shopping is largely dependent on the World Wide Web. A report by the International Telecommunication Union shows that by 2023, 5.4 billion(67%) people use the Internet globally.