Aussies to spend almost $14bn online in 2011
Online purchasing in Australia continues to rise and the fastest growing sales channel continues to present a huge opportunity to businesses willing to adapt.
The mid-year analysis from Price Waterhouse Coopers (PwC) and Frost & Sullivan suggests that online spending is set to grow by 13% in 2011 to $13.6bn. Instead of wondering how to combat the increase in online sales, Australian businesses should be directing their efforts towards securing their slice of the pie.
Sales forecasts suggest online purchases in Australia will be worth in excess of $20bn by 2015 – that’s double the rate of growth of traditional retail over the next four years. Having the foresight to invest more in online sales channels and less in offline means presents a huge opportunity for increased returns on investment.
Domestic purchases account for over half of all online purchases in Australia
As we mentioned back in May, the majority of online purchases in Australia are bought from Australian companies – PwC confirms this trend is continuing in their latest report with domestic sales accounting for 56% of online sales in Australia. That represents $7.6 billion that Australian businesses will share in 2011.
The increase in online sales by Australian businesses also demonstrates a shift away from traditional retail. While there will never be a total shift, some things are just easier (and often cheaper) to buy online so it’s likely the trend will continue to sway in favour of the online channel for the foreseeable future. Consumers today are more willing than ever to buy online – Borders know that too well and more retailers will follow a similar fate to the famous bookstore if they don’t adapt to a fast-changing landscape.
Australian businesses should see this online growth as an opportunity, not a threat
Naturally, Australian businesses currently competing online are jostling for a better position to take as much of that $7.6bn figure as they can get their hands on – this is reflected in the fact that competition has intensified significantly in most industries.
With half the year remaining there is still at least $3.8bn on offer to Australian businesses through online sales channels – businesses yet to embrace the online sales channel are sure to come looking for their share. Is your business prepared to get the best possible return from your online investment?
roi.com.au help hundreds of Australian businesses to establish a robust online presence and ensure they get a share of that $14bn annual figure. If you want your share of what’s left in online sales in Australia 2011 and beyond, call us today on 1300 650 274. Our search engine optimization, pay-per-click (PPC) and social media optimisation solutions are a part of our comprehensive online marketing solution aimed at putting your business first.