eCommerce has grown expontentially. From small, niche stores with untrusted payment systems, to the mega stores of today like Amazon, eCommerce has become trillion dollar industry. Currently approximately 9% of all retail transactions are conducted online, and while this may seem like a small figure, the increasing speed of delivery and features such as instore pick-up will see huge jumps in the coming years.
Huge Potential
eCommerce in Australia has enormous possibilities. The size of the country and the distance to cities like Perth and Adelaide from the east coast, means that any business able to sell online and ship a product for next day delivery will reap the rewards. Factor in time differences, and Australia is the right environment for the online shopping boom.
Rapid Internet uptake
Worldwide, from 2013 to 2014, the total number of internet users increased by almost 100 million. This means that more than 40% of the world’s population has internet access and the ability to engage with brands and products from different countries. In Australia alone there are almost 13 million users, which means that converting even 1% of this market will create 130,000 sales.
eCommerce is easier than ever
Only a few years ago the technical knowledge required to create and maintain an online store made it prohibitively expensive for many. The last few years have seen the rise of a full range of turn-key CMS solutions, making the world of eCommerce as easy as Plug n Play. These platforms come complete with integrated stock management, payment solutions, and a CRM for full customer engagement.
Increased Trust
Despite some high-profile data hacks, internet security is stronger than ever. The early uncertainty about divulging details online has all but disappeared, with platforms such as PayPal and Bitcoin providing a layer of extra protection to credit cards, while allowing people without credit cards to make purchases quickly. On top of this, encryption for websites has improved and many people are happy to trust iTunes, Amazon and a host of others to store their payment details to make one-click purchasing a reality.
Take Advantage of the Online Boom
The tech bubble may have burst some time ago, but eCommerce and online transactions are driving the latest boom. The ability to offer lower prices than traditional retailers, as well as fast delivery, has made online retails more than just a passing fad. People are time poor and are constantly looking for ways to streamline their lives. eCommerce provides a shopping experience they can have whether they are at home on their computer, or out in the world on their mobile devices.