- March 17, 2021
- by Wendy Treacey
Why eCommerce? – It’s now & the future.
Global eCommerce sales will reach $4.5 trillion by 2021 – and Aussies are already top ten competitors.
There’s no doubt about it: if you’re looking for sustainable long-term growth – ecommerce is the business to be in.
The future looks bright and prosperous for Aussie eCommerce business owners. The market is thriving and those retailers prepared to invest proactively are poised to reap the rewards.
In 2017, online shopping increased by 10% while in-store foot traffic increased by just 3%.
More and more Australians are buying online every day and make more purchases online in the evening. The advent of Covid-19 has emphasised the need and growth of buying on line and will continue into the future.
Taking up the eCommerce opportunity:
There’s nothing more valuable to an aspiring business owner than knowledge and experience.
It’s vital to know the game you’re playing, who you’re up against and what the odds are of succeeding. Investing in an existing, successful eCommerce business can provide a new owner with an operation already set up for future growth and expansion.
If you want to capitalise on the future growth of the Australian eCommerce industry – you need to keep innovating and optimising your online shopping experience at every opportunity and stay ahead of the game.
Preparing for seasonal rush - Christmas hysteria really works wonders for eCommerce businesses. 34 million domestic parcels were delivered over the Christmas period in 2016 and 5.6 million parcels shipped from overseas.
Manic Monday (the last Monday before Christmas) is also typically the busiest day of the year for online shopping deliveries.
Key consumer trends:
Demand for personalised products increased by 28.2% in 2016. More and more online retailers are offering consumers the ability to co-design and add personal touches to their product and this is steadily increasing.
Online shopping via a mobile device is increasing at an impressive rate, up 52% from 2015. However, most online shopping is still done on desktop or laptop computers.
Consumers are tending to shop online later in the day, with 29% of purchases made between 7–10pm. A further 18% occur between 2–5pm.
Are there still barriers to online shopping? Research conducted in 2016 shows that many of the issues once considered barriers to online shopping are becoming less significant.
1. Since buying online often means not seeing products until they’re delivered, returns was cited as the main barrier. Retailers have responded with well-defined return options, giving customers more confidence when shopping online.
2. Some consumers cite delivery as a problem – since it can be difficult to arrange a home delivery time that’s convenient. Carriers and retailers have responded by providing alternate delivery options, including in-store and other collection points. An increase in tracking notifications has also been well received by consumers, with over two-thirds rating this service either valuable or extremely valuable.
Inside Australian online Shopping – all the stats:
Source: Australia Post / Startrack eCommerce Industry paper