PhotonPay Launches Collection Service for Amazon Australia
Product Update | 2024-07-12 08:07:00
This month, starting from July 1, 2024, the Australian government has removed import tariffs on nearly 500 types of goods. According to Australia’s Treasurer, Jim Chalmers, these tariffs account for 14% of the total tariff revenue, marking the largest unilateral tariff reform in the country in 20 years. This favorable change is expected to attract more trading companies and cross-border sellers to enter the market.
As the most visited e-commerce platform in Australia, Amazon Australia is seeing a promising future and has recently announced five new major benefits for its platform. These initiatives are aimed at helping sellers operate their Australian businesses with lower costs and higher efficiency. As an official global payment service provider, PhotonPay has launched its collection service for Amazon Australia, offering fast withdrawals and competitive exchange rates to help businesses tap into this new blue ocean market.
Currently, PhotonPay’s collection service covers the following Amazon sites: the U.S., Canada, U.K., Germany, France, Italy, Netherlands, Sweden, Poland, Japan, UAE, Singapore, Australia, and Brazil.
Australia Data Overview
According to a report by Global Data, the Australian e-commerce market reached AUD 74.9 billion in 2023, with an annual growth rate of 10.3%. The market is expected to grow by 9.3% this year, reaching AUD 81.9 billion, with a projected compound annual growth rate (CAGR) of 7.6% over the next four years, indicating significant future growth potential.
Strong complementarity between Chinese and Australian industries:
Economic and trade exchanges between the two countries are close. Official data shows that in the 2022-2023 fiscal year, China ranked as Australia's largest import trading partner, with Australia's imports from China growing by 9.4% to AUD 113.375 billion during that period.
High internet & e-commerce penetration:
Despite a population of only 26.31 million, Australia boasts an internet penetration rate of 96.2% and an e-commerce penetration rate of 74.0%.
Younger user base:
Amazon Australia has a notably younger user demographic. Users aged 25-34 make up 30.22% of the total user base, nearly one-third.
Strong purchasing power:
Australians spend an average of USD 2,033 per person annually on online shopping, with higher average transaction values compared to other markets, offering the potential for substantial profits.
No language barrier:
As an English-speaking country like those in Europe and North America, Australia offers easy operations with no language barriers.
Analysis of Product Selection Strategies for the Australian Market
For any seller, product selection is like "sharpening the knife"—only by developing a smart product selection strategy in the early stages can efforts lead to greater success with less effort.
Australia shares cultural similarities with Europe and North America, so sellers can refer to the popular trends on mature sites in those regions and synchronize their product offerings to the Australian market, making the process both convenient and efficient. On the other hand, due to its location in the Southern Hemisphere, Australia experiences seasons opposite those in Europe and North America, creating a unique opportunity for off-season sales, eliminating concerns about clearing seasonal inventory. In 2023, in addition to consistently strong-performing electronics, categories such as home goods, entertainment and leisure, beauty, and personal care products have also seen continuous growth on Amazon Australia.
Favorable Policies to Help You Seize Opportunities
To help sellers on Amazon Australia expand their opportunities with lower costs and greater efficiency, Amazon has introduced "Five Key Benefits" focusing on cost, efficiency, and service capabilities for both new and existing sellers!
Benefit 1: Introducing the "New Seller Package" for the first time
-
-
Brand sellers can receive a 5% rebate on their transaction volume, up to AUD 75,000. The rebate will be applied to offset the following month’s sales commission.
-
Sellers using Amazon’s partnered carriers can enjoy up to AUD 150 off inbound shipping fees; those using Amazon SEND service can receive up to AUD 300 in discounts.
-
Sellers will also receive a AUD 75 discount coupon for Amazon Sponsored Products advertising.
-
Benefit 2: "Seller Incentive Program"
Eligible sellers will have the opportunity to receive various rewards, including advertising incentives, new product storage bonuses, oversize and overweight storage bonuses, and partnered carrier rewards.
Benefit 3: Oversize and overweight storage program
To meet consumer demand for large products, Amazon Australia is launching the "Oversize and Overweight Storage Program" to accommodate sellers' needs for storing oversized items.
Benefit 4: Amazon Vine program to be available for Australian sellers
This program will provide eligible sellers with the opportunity to obtain high-quality consumer reviews, helping them quickly gather feedback and boost new product sales.
Benefit 5: First-ever release of the "Australian Consumer Trends and Product Selection Guide"
Based on data and case studies, this guide provides an in-depth analysis of the current state of the Australian cross-border retail industry, offering valuable product selection advice and market insights from multiple perspectives, including e-commerce development, consumer insights, and market trends.
When you choose PhotonPay’s payout service for your Amazon store, you’ll not only benefit from competitive rates and a smooth onboarding experience but also enjoy Photon Card’s limited-time cashback offer on Amazon CPC advertising fees, with up to 1.6% cashback. This helps sellers easily pay for Amazon in-platform advertising, while the five key benefits provide a significant boost to profits for more sellers!
Latest Announcements
Back To News Center
PhotonPay Becomes a Mastercard Issuer in Hong Kong
To launch Mastercard Commercial Credit Card to help businesses better navigate market volatility
Company News |
2024-11-11 01:00:00
PhotonPay Partners with Coshine for Issuer Processing
PhotonPay, an innovative digital financial infrastructure service provider, has announced a strategic partnership with Coshine to optimize the capability of Photon Card through its issuer processing services.
Company News |
2024-11-07 11:00:00
PhotonPay and WotoKOL Enter Strategic Partnership
Recently, PhotonPay, an innovative digital financial infrastructure platform, announced a strategic partnership with WotoKOL, a leading global content marketing platform for international brands. Both
Company News |
2024-09-13 11:49:39
Latest Announcements
PhotonPay Becomes a Mastercard Issuer in Hong Kong
To launch Mastercard Commercial Credit Card to help businesses better navigate market volatility
Company News |
2024-11-11 01:00:00
PhotonPay Partners with Coshine for Issuer Processing
PhotonPay, an innovative digital financial infrastructure service provider, has announced a strategic partnership with Coshine to optimize the capability of Photon Card through its issuer processing services.
Company News |
2024-11-07 11:00:00
PhotonPay and WotoKOL Enter Strategic Partnership
Recently, PhotonPay, an innovative digital financial infrastructure platform, announced a strategic partnership with WotoKOL, a leading global content marketing platform for international brands. Both
Company News |
2024-09-13 11:49:39
