April 9, 2014 Harnessing the power of e-commerce in Australia

By Natalie Khoo

E-commerce

Perusing online has become a great way for customers to try before they buy. E-commerce sites such as eBay and Amazon provide a simple way for shoppers to browse for products conveniently at a time that suits them.

With this in mind, it is crucial for small businesses to be aware that a website can make or break a sale. It is usually the first place consumers seek information and form a perception of your brand.

Speaking to the digital consumer

As IBISWorld explained in their 2014 annual report ‘Online retailing has changed the face of the Australian retail sector, representing a paradigm shift in the way consumers make transactions’.

For those in particular who are targeting the Gen X or Gen Y markets, staying on top of the digital game is vital. The prevalence of mobile internet devices means this audience is constantly connected and extremely open to making purchases online.

A review of Australia online

Australia is the third largest online shopping country, ranked only behind the US and the UK. The National Australia Bank observed that online retail is consistently growing at a faster rate than the traditional bricks and mortar retail sector (2014).

At least 74% of internet browsers purchase goods and/or services online (Australian Bureau of Statistics, 2014). Furthermore, a majority of these online buyers are between the ages of 25 and 34 – the bracket with the highest level of disposable income.

Effective use of e-commerce can provide a vital source of revenue for any small business. Businesses should be investing in optimising user-friendly sites that incorporate a an online shopping cart with payment processing facilities via credit card or PayPal. Giving buyers the opportunity to buy on the spot will maximises any chance of making a sale.

 

e-commerce