Retail companies have been affected because retailers can offer their customers more options regarding home delivery, pricing, and coupons. The online stores expose the brand to more potential customers due to the wider range of products.
Company websites also impacts retail companies as companies are turning to their website pushing consumers to purchase items from their sites as well offering people coupons on their website or email campaigns.
According to ABS Retail Trade Australia the key statistics shown from June 2021 seasonally adjusted estimate:
- Fell 1.8% month-on-month.
- This follows the 1.8% fall published in the Preliminary Retail Trade release.
- Rose 2.9% compared with June 2020.
- In volume terms, the seasonally adjusted estimate rose 0.8% in the June quarter 2021.
According to IBISWorld, Revenue for the Online Shopping industry is anticipated to rise by 35.3% in the current year due to more bricks-and-mortar firms establishing online operations.
According to Statista, a survey was asked which of these items have you bought online in the past 12 months?
The above graph drawn from ABS data shows online shopping habits increased in Australia from 2018 to 2021.
A spike was seen with online shopping increasing during the first major COVID-19 Lockdown in Melbourne from April to October 2020.
Businesses were seen consistently adding new features and services for online shoppers, with the intent of providing them the same support and comfort that they would have during an in-person shopping experience.
According to Statista, in 2017 statistics show 2.14 billion people worldwide purchase goods online.
In 2018, 50% of consumers shopped more on mobile than in-store.
A report was found in 2017, online shopping increased by 10% while in-store shopping increased by just 3%
With the challenges of 2020, more and more Australians were seen the need for online shopping.
April 2020 saw 200,000 more Australians shopping online for the first time.
Initial purchases were concentrated around essential items like groceries with demand for other items suffering initially. However, as time went on, demand for other product categories began recovering. Australians began purchasing more of fashion and apparel, particularly casual, sportswear and started spending on other entertainment items like books.
(Featured image: online shopping, Thursday, Aug.21,2021. REYAM ALYASERY)
