What’s The Buzz in Australian Consumer Electronics?

Over the past 12 months, Australian consumers have endured 12 interest rate rises. Due to the lag in how these increases filter through to homeowners, it’s only in the past two or three months we’ve started to really feel their impact – both for homeowners and for renters having their rents increased to cover higher mortgage repayments.  

That in itself is enough to put a dampener on consumer spending, but with inflation at record-high levels (which is the catalyst for the rate hikes), we wanted to explore what the impact has been on Australian eCommerce traffic.

Over the coming days, we’ll unpack the impact on several Australian eCommerce sectors. Last week, we unstitched Fashion and Apparel, and in today’s installment, we’ll decode Australia’s online Consumer Electronics sector.

Key takeaways

• Traffic to Australia’s top Consumer Electronics websites declined more than 10% YoY in the first six months of this year.
• JB Hi-Fi dominates the sector, but all major players saw significant traffic declines.
• As economic pressures build, Australians are increasingly interested in refurbished electronics.
• Home office-related searches are MIA as people reclaim their homes for leisure.

JB Hi-Fi is in a league of its own

Australia’s Consumer Electronics market is absolutely dominated by JB-Hi-FI, with more than 21% of the entire category’s market share. Its closest competitor, Apple, has a 13.33% market share.

The sector’s overall decline is evident in the performance of the category leaders who, with the exception of Bing Lee, experienced YoY traffic declines of between 3 and 38% (but Bing Lee only narrowly avoided joining the rest of the cohort with an increase of just 1%).

JB HiFi dominates the category, while Reebelo, specializing in refurbished electronics, posts a remarkable 67% growth

Category Leaders are defined as the top websites in the respective category based on their Traffic Share.

Category Challengers refer to websites with over 500,000 Average Monthly Visits, experiencing the highest rate of growth within the category.

But perhaps the most interesting insight on this table is evident when looking at the fastest-growing Consumer Electronics players.

To find out more about what’s driving Australia’s fastest growing Consumer Electronics brand, download the full report.

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Methodology

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Photo by Akhil Yerabati on Unsplash

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