Why Is Online Shopping Growing?
Why is online shopping growing in Australia? Even with global financial concerns and consumer confidence dropping, online shopping is growing and it has been forecast to continue to grow.
Not including travel and groceries, Australian online spending is growing at a rate of 12% per annum. More and more retailers are establishing an online presence and more people are participating in online shopping. There has been an increase in the number of major international retailers offering online sales. In fashion, Australian shoppers are looking for the latest products and styles from overseas. Equally, they are turning to international sites for appliances, homewares and consumer electronics.
Consumers have become more confident with online shopping as their knowledge and understanding of online retail has increased. The convenience of finding, comparing and purchasing goods online has encouraged an influx of new interest in e-commerce shopping. Online shopping is becoming second nature for many Australians.
Why are Australian consumers shopping online? They are enjoying greater variety and choice of goods as well as finding the best prices. They are encouraged by the strength of the Australian dollar as well as the increased number of online buying sites. Increased confidence with online shopping, including the use of mobile devices to make purchases and social media driven brand awareness are all contributing factors to the growth of online shopping.
In order to be competitive, retailers need to be more innovative by increasing the sophistication of their online offering. There is a continued growth of mobile commerce and consumers are now combining this method with online and in-store shopping. It is the retailers who understand and accommodate for this blended way of purchasing who will be the leaders in Australian retail growth.