The Australian retail and e-commerce landscape have shifted dramatically in the past couple of years and will continue to change in the future. Australian brick-and-mortar retail stores are in crisis with incredible amount of Australian brands increasingly closing their stores. As a result, retailers are doubling-down on their e-commerce efforts at a rapid pace. With retail ecommerce estimated to increase to $16 million by 2022, businesses need to have a better understanding of the upcoming opportunities and threats. So, how can you secure your business for the future amidst these digital trends? The secret is to start integrating ecommerce with digital marketing strategies before your competitors do.
Consumer behaviours are shifting by the minute, and technology is evolving. What is popular today, might not be next month. With more than 19.4 million mobile users, Australians prefer shopping from their mobile phone. All of this is creating a big challenge for retail businesses competing with ecommerce retailers. Seeing as 45 per cent of Australians purchase a product online from their mobile or tablet monthly, while 27 per cent weekly and 5 per cent daily, e-commerce is the new digital investment trend.
The Australian ecommerce industry has a lot to offer. The good news is that Australians love buying from local online stores. They are spending most on homeware, media, fashion, food and technology, with a high demand for personalised products and services. There is still a lot of room for growth as online grocery sales are expanding 7 times faster than any other market segment, yet only 2% account for the total of grocery sales. This indicates that there is growth on the horizon.
It’s time to turn your website into an e-commerce platform. Being unable to expand and update your website as you grow, can result in a loss of sales because your customers and clients will be looking elsewhere. Don’t let your website hold you back. Having an e-commerce platform will just be an additional service you can provide for your customers to instantly purchase without the hassle of having to come instore. One of the benefits about adding ecommerce to a business strategy is that it doesn’t require much more than what is already available at the brick and mortar location.
Investing in an e-commerce software platform is important for all businesses, because consumers use all channels at their disposal when researching, selecting and buying a product or service. In-store browsers can become online shoppers and vice-versa. Even when consumers are browsing online and in-store, one in three choose to go back online to make the purchase. The top 5 e-commerce platforms and solutions we have found to have worked for many online retailers, is Shopify, Bigcommerce, Volusion, Bigcartel and 3Dcart respectively. At Muscle Media, we can develop e-commerce websites, integrate a shopping cart and AfterPay features for your website.
Small businesses need ecommerce now, more than ever. If you haven’t started selling online, it is the best time to get started. Your target market is already buying online.