Nearly every day we hear something in the press or about how online shopping continues to grow in Australia. Here are some facts to digest, including trends from HitWise Australia.
While Australia has experienced rapid growth in online shopping, the lack of local big brand retailers selling online is forcing shoppers to buy from overseas competitors – creating space for local and niche operators to flourish!
- Industry commentators say Australia is several years behind the US and UK and Australian consumers are voting with their wallets when it comes to shopping online – there is growth on the way.
- Online shopping in Australia is expected to expand its share of the retail market from 2 to 3 percent to 7 to 8 percent – closer to the threshold it already occupies in the U.S. and the U.K
- Huge growth in the online House and Garden sector (where consumers browse online and buy in store – we love to research!)
- Growth in the electronics sector – with car audio, games, LCD TVs, DVDs, XBox 360s and CDs all commonly searched
- Continued growth in traffic to shopping and classifieds websites
Security remains a key factor for both buyers and sellers. Buyers want to know they can trust the site to get their goods and that the privacy of their credit card details will be preserved. Sellers want to know that they are not being defrauded.
Trends such as these create opportunities for businesses to sell their products online and take advantage of store-pick-up methods of shipping. Or simply to showcase them and publish stock levels. Either option grows business revenue and cuts down on postage costs which are a huge deterrent for both buyers and sellers online.
Providing your customers with an easy-to-use shopping experience, good selection of payment options and a strong security policy to build trust can help online businesses be a success.