In the last few years, online shopping has experienced an explosion in popularity with many people choosing to make purchases on the web.
Now, the Australian Bureau of Statistics (ABS) has revealed its calculations and it is estimated that domestic online sales represent under 2 per cent of total retail sales, while international sales represent another 2 per cent.
Approximately 40 per cent of those sales were from businesses that operate solely in the online platform, while the remaining 60 per cent of companies have both an online and real-world presence.
The most popular items for Australians to purchase online were books, clothing, electronic goods, CDs and DVDs.
These statistics show that there is still a lot of shopping going on in the physical realm, despite the growing popularity of online shopping. One explanation could be that those older than generation Y aren't as used to digital technologies and are more wary of buying goods online, whether it is from doubts relating to item quality, or concerns about fraud and bank detail security.
So what can your company do in regards to its retail strategy?
First you can identify your target consumer base. If it's primarily young people, it's advisable to have a strong online presence to maximise online engagement and sales. If your shoppers are mostly of an older generation it might not be so important – but you still want to keep up to avoid missing out on any opportunities.
Come up with some customer survey questions for your consumer base and ask your clients about their shopping behaviour both online and in the real-world to see what your company can do to improve performance in both arenas.
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