Against the backdrop of dismal news for bricks & mortar retailers it has been reassuring as an ecommerce website developer to read through the findings of the Commonwealth Bank's Global Markets Research report into the state online retail and e-commerce in Australia.
The report shows that consumers have flocked online in ever increasing numbers in the past 12 months. Best yet is the fact that online retail is still growing and there is massive opportunity for further growth. Australia still lags behind the US and UK when it comes to online sales but seemingly the only direction is up.
The report’s findings are particularly interesting in what they reveal in the deeper analysis of consumers buying patterns online.
From my perspective, the 10 most interesting findings:
In addition to the very promising statistics about online retailing, the report sees tremendous opportunities for further growth. It is noted that online penetration in Australia is behind many other developed countries such as Britain and the US. Assisting this growth will be the fact that Australians are adopting smartphones at a rate ahead of other developed countries. The idea being that this channel will generate a much higher percentage of online sales in the near future.
We see this report as really exciting news for the web design and website development industry. Despite the overall Australian economy being sluggish, it is still boom time for online business. There are massive opportunities for start-up businesses to still develop a successful online store, as well as existing bricks and mortar businesses transitioning online. This is evidenced in the work of our Online Marketing Team who consistently note that competition in Google Australia for top billing across important keywords is very real, but great rankings are far more achievable in a short space of time when compared to the more mature online markets such as the USA & UK.
Hi James. Great article. Stumbled across your article when doing some research into launching a new online venture into Oz. Your findings validate many of our findings to support the new e-commerce venture. Namely a booming AUD and lack of serious competition in our online space. Australia seems a great place to launch a new website.
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