Baby Boomers are spending big online while young people are making substantial cutbacks amid increased cost of living pressures. This is according to Australia Post’s most recent annual report on Online Shopping released on Monday, which reveals a stark generational gap in online spending habits in Australia. While Australians overall spent less online compared with last year, a closer look at the data shows the trend toward more cautious online spending does not apply to Boomers.
For those aged 60-78, online spending increased by 7 per cent in the last year. With a total spend of $12.5 billion, Boomers spent almost $1 billion more on online shopping than they did last year. The data more broadly found 9.5 million Australian households shopped online in 2023, spending a total of $63.6 billion on online goods. These figures indicate Australians have overall spent less online compared with last year, with online spending experiencing a 1.2 per cent decline.
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