Discuss about the Secondary Data and Descriptive Analysis for E-commerce Industry.
Australian’s online shopping grew by 11.5% in 2017 from 2016. Many people prefer online purchases for many reasons. One of the main benefits is that consumers can compare different products from a wide range of products offered online. Additionally, online platforms offer cheap and convenient products. Many Australian citizens are aware of the online shopping, and they have frequently utilized it. The number of parcels delivered online over the last 12 months has grown by 16% per shopper. The sophistication of online retailers has become a significant driver for this change. Companies have developed strong brand loyalty and familiarized the product to consumers. Businesses are also providing improved online experiences and created various ways of delivering the product. Online spending in 2017 performed more than retail selling (startrack.com, 2017).
According to the statistics, the online spending increased by 6.9% in 2017 from 2016. Despite this, retail selling also occupies a considerable market share in Australia, with a total value of $261 billion in terms of physical goods. Online had a total of $18 billion physical products in 201. Research has revealed that for the three months period in 2017, approximately 9.7 million people in Australia shopped online (startrack.com, 2017). Millennials are contribution a significant portion of online shoppers in Australia. The age of 25 to 35 are the heavy user of internet and hence have adapted to the online shopping. Baby boomers also top the list of online shopping with their most income used in demographics. Retailing businesses are changing quickly in order to compete with online shoppers. Fashion and variety store leads on the online shopping. Together, they have contributed for more than half of online shopping. The fashion department reported a growth of 17% while the variety recorded an increase of 7% from 2016. The Print and Media department is increasingly having an impact in online shopping.
This department recorded a significant increase of 23% from 2016. It is mainly contributed by a change from physical bookstores to online book purchases (webalive.com, 2017). Geographical differences are also having an actively contributing to the growth of online shopping. This is necessitated by the strong economic growth in major cities such as South Wales and Victoria. The trend was positive in 2016 and 2017 as compared in 2015. It is undoubtedly true that online shopping has already established itself and also reached its maturity. However, if a more aggressive player makes way into Australian’s domestic market, this would increase the demand for online shopping.
According to the latest finding, the demand for personalized goods has improved by 28.2% in 2016 from 2015. Many retailers are offering a variety of products online. They can provide consumers with personal touches and co-design services (startrack.com, 2017). Online shopping through mobile devices has also become familiar to Australians.
There was an increase of 52% in 2016 from the previous year. However, although online shopping is still done via desktops and laptops, the rates have decreased by 10% and 6% respectively from 2015.
From the statistics, Temple & Webster is the best online Company selling furniture in Australia. In 2015, it advertised more than 140,000 products on its website. In 2016, it had a total sales of $61.7m. The trend is similar for food and other departments which are expected to increase in the future (webalive.com, 2017).
According to the government, Generally, Australian it have used $21.65 billion on online shopping. It was used in purchasing both the physical and digital goods such as electronics and take way food. There was an upward trend in 2016, where it increased to 10.4% in spending compared to the previous year.
Startrack.com (2017) Inside Australian Online Shopping. Retrieved from
Webalive.com, (2017) Australia’s Growing E-commerce Industry and How It Is Changing Retail
Trends. Retrieved from https://www.webalive.com.au/future-of-australian-ecommerce/