Online Sales Up To AU$15.2 B In Year To March 2014…Be Part Of The Growth
The chart below shows the growth rate in online retail sales versus bricks and mortar retail sales over the last 4 years.
Not withstanding this strong growth, NAB noted that in the year to March 2014, online retail sales were only 6.6% of offline retail sales.
As always with statistics, the overall headlines can be dramatic and support a trend, but the detail can sometimes deliver some different results for the different categories within the whole…which online retailers should be aware of.
For example the NAB survey noted that while Groceries, Liquor, Department, Variety and the Fashion categories all performed well, Media and Daily Deals and some personal and recreational categories declined.
Why the variations? It is a learning experience as we all try different online shopping experiences. Some work and others don’t.
I am sure you are starting to understand yourself that some products you prefer to see and feel in a traditional bricks and mortar shop. While others you might be happy to buy online.
Everyone is going through this process of trying and testing, especially now as the fear of giving a credit card number online has faded. For this reason it pays to do your homework and be prepared to try and fine-tune to identify your market opportunities.