Online purchases by Australian consumers dominated by streaming [report]

Aussie’s love their digital subscriptions, according to a new report.

A new survey of online purchases found that Australians predominantly spend it on music and video streaming.

The new study by Fiserv called The Global Rise of Digital Goods and Services found that nearly three quarters (74%) of online purchases worldwide are for digital goods and services.

In the average number of media subscriptions, Australia was 0.49 for music streaming.

It was placed at #5 tying with North America.

Malaysia was at the top of the list with 0.54, and then Argentina, Mreico and Scandinavia with 0.53.

Australia beat the UK, Germany, and the Philippines.

With video streaming, Australia was at third place, with 0.85, beaten by North America at 0.95 and Scandinavia at 0.92.

Digital goods and services were defined as on-demand services, digital subscriptions, digital media, computer software and mobile apps.

According to Nandan Sheth, head of global digital commerce at Fiserv, “The rise of digital goods and services present ample opportunities for businesses to grow and enhance customer loyalty.”

“This requires accounting for local payment preferences and nuances, enabling new digital experiences for customers, and ensuring secure commerce that is seamless across channels.”

The study covered 6,000 consumers across 15 countries and four different age groups – Linksters (18—23), Socializers (24—34), MTV Generation (34—54) and Maturists (55+).

In other countries, online purchasing for on-demand services saw ridesharing as the fastest growing, followed by restaurant delivery, business services, and home-sharing.

Gaming continues to skew younger, but is still a thriving market among all age groups.

This is thanks in part to new advancements in mobile, streaming, payment and artificial intelligence (AI) technologies.

In the past 12 months, Socializers led in gaming purchases, with 51%, with Linksters coming in second (45%, then the MTV Generation (36%) and Maturists (13%).