One of the most important trends to emerge in Australia’s digital consumer market from the COVID-19 situation was the massive boom seen in demand for streaming services over the course of 2020. With cinemas, theatres and other entertainment venues closed or operating at limited capacity and with many people reluctant to socialise outside of the home due to fears of contagion during the year, the scene was set for a massive increase in demand for online content via streaming services.
Australia’s consumer foodservice responded robustly to the COVID-19 situation that during 2020, with a major industry-wide shift seen towards catering to takeaway and delivery orders. The concept of foodservice delivery is not exactly novel.
Another consumer services industry that was able to rely on greater digital engagement to whether the COVID-19 storm during 2020 was travel and tourism. In particular, bookings for airline tickets and other transportation tickets dropped sharply over the course of the year as the international travel and tourism industry faced a virtual shutdown in the face of the challenges presented by the COVID-19 pandemic.
After many years of underwhelming consumer interest in digital payments generally, 2020 witnessed a huge shift towards the use of digital wallets in Australia. Some of the country’s most important retail banks have been largely responsible for this, with ANZ Bank taking the lead in 2020 as its digital wallet transactions volume surged by more than 50% in the six months to 31 July 2020, year-on-year.
At the end of the review period, Australia’s leading telecommunications operators were in the process of rolling out their 5G infrastructure. The advent of reliable, secure and fast 5G mobile telecommunications can be expected to be a major influence on the development of Australia’s digital consumer market during the forecast period.
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