Half of Aussies prefer platforms: Stripe

Half of Aussies prefer platforms: Stripe

The use of businesses such as Uber, Deliveroo and Vinomofo has reached a tipping point, with a new study revealing 50 per cent of Australians already prefer to use these online marketplaces versus traditional businesses like taxis, restaurants or retailers.

The study conducted by Nielsen across nine countries, which was commissioned by payments technology business Stripe, revealed that Australia was significantly ahead of markets such as the US and the UK when it comes to the uptake of marketplaces, but trailed Singapore, where 73 per cent of respondents said they preferred using marketplaces.

The Stripe head of growth of Australia and New Zealand, Mac Wang, told The Australian Financial Review the marketplace business model had been established locally for some time, but in the last few years it had gone from strength to strength.

“First and foremost consumers will vote with their wallet. If a service is simply better, more convenient, more exciting, or gives them better choices or value, they’re going to choose that option,” he said.

“Underlying that is also a technological shift – the availability of mobile payments like Apple Pay and Android Pay are clear drivers, as is the widespread reliance on our smartphones to do basically everything now.”

More than 50 per cent of local respondents said they spent more money on marketplace businesses than their traditional counterparts, with 64 per cent reporting having used an ecommerce marketplace like Etsy or eBay to buy or sell goods, nearly a third using hotel or hospitality marketplaces like Airbnb or Agoda to make bookings and a quarter used food delivery services and ridesharing.


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Source: Half of Aussies prefer platforms: Stripe | afr.com