Setting up an ecommerce business is a tough task, one which involves a lot of effort and detailed technical knowledge from professional web designers to make sure that you are able to offer a great user experience to customers and ensure good sales volume. With the trend of online buying reaching its pinnacle in the industry, you would definitely want to be at the top of your game and offer a user friendly ecommerce service to online customers to have them coming back for more!
But while an ecommerce start-up involves a lot of work and planning, there are a lot of costs and expenses linked with the job as well. While every business has a budget, the technical aspect of an ecommerce enterprise necessitates you to have a very clear idea of what you intend to spend for setting up a start-up in the competitive industry.
Besides the costs, there are a number of other issues which you should resolve beforehand, before you set up your ecommerce services. Following are a few essential costs and issues that are linked with your ecommerce start-up.
The multimillion-dollar eCommerce industry is growing by leaps and bounds in Australia. When it comes to making the online business, a success an online business owner needs to take many things into consideration. And one of the most important aspect of any online business store is picking the right eCommerce platform.
People starting an eCommerce business may feel overwhelmed by the different types of online platforms that seems to offer the same services. However, the platforms differ in terms both in terms of price and functionality. Here we will take a look at the most popular eCommerce platforms that offer the best deal for online businesses.
Shopify is a hosted eCommerce platform that does not require you to purchase a separate web hosting platform. The big upside of the eCommerce store is that the availability of add-on apps that greatly extend functionality of the online store. However, a downside of the eCommerce platform is that it offers limited ability to customize the interface.
Magento has been considered the best online platform for eCommerce sites. The online platform is used by major e-commerce companies due to greater flexibility in customizing the site. The only drawback of this platform is that creating and customizing the site requires hiring a professional website designer which adds to the cost of operating the store.
You may have setup a complete ecommerce website for your online business in Australia, but are you sure it has everything you need for next year? Here are some must-have features that can help you improve the business by making things more efficient:
Firstly, maintain an innovative, fresh, and engaging online presence. This is not something you have to look at annually, but on a daily basis, because ecommerce is a very competitive market. In recent years, the Australian ecommerce industry has not only served as a significant tool for revenue growth, but has encouraged consumers to spend beyond their limits. In the next year, there is going be an increase in overseas and local retail purchases by an estimated amount of $25 billion. Therefore, if your website doesn’t appear engaging, others will make sure theirs does.
Another important requirement is to keep your ecommerce processes competitive. You must try to cover all likely aspects to make sure that your customers can access your products and services. For example, The Iconic Magazine is not just available in hard copies, but is available online as well, making it accessible for mobile users too.
There’s no doubt that many successful online businesses exist in Australia that can boast about having the biggest cut of the cake. However, with so much competition, staying ahead of the game has never been tougher than it is now.
The Forrester analyst group reported in October that at least a third of the total number of online ecommerce businesses plan to invest in improving their technology for 2016. Thus, there will be more online spending options, multichannel retail strategies, mobile solutions, and back office integration next year. This means that there will be more benefits for consumers in terms of variety and easy access to services.
Our list of ecommerce superstars in Australia include market leaders, established and leading players in the ecommerce market, and rising stars of the Australian ecommerce arena.
#1: Appliances Online
This online store began as a simple online store and today, is a multimillion-dollar business. John Winning started it singlehandedly, but today, it has 80 employees and it has proved that Australia has great potential for online retail businesses. The website sells white-goods (domestic electrical items). In the past year, the number of customers using this platform has doubled with more than 150,000 online buyers.
According to the predictions for the retail ecommerce market, based on stats collected since 2009, we are seeing retail sales increase by 14.4%, which equals to approximately 10 billion dollars. In Australia, ecommerce sales have increased to 17.3% and account for more than 4% of the total retail sales. By the end of this year, this figure will rise by an additional 4.5%.
Based on these facts, by 2017, the world will see a double-digit increase and retail sales will increase to approximately 14.52%. This will stand for 5.6% of Australia’s retail sales. Today, Australia stands in the middle of the ecommerce market when compared to Asia-Pacific countries like India, Indonesia, China, Japan, and South Korea.
An interesting fact is that the highest number of customers for the ecommerce market in Australia are the second highest recorded in the Asia-Pacific region. EMarketer predicts that by the end of 2015, 79.4% of the total number of internet users in Australia will use ecommerce websites to purchase things. The leading country will likely be Japan, which may have approximately 82.0% internet users. Australia is a little further down the list, mainly because of its comparative population size of digital buyers.
However, investing in ecommerce businesses in Australia is a good idea because it has a crowded ecommerce market with international competitors. In fact, the country showed the highest number of retail customer visits during a week of study. Sites like eBay have also recorded the highest number of visitors, followed by Amazon, and then other ecommerce websites, like AliExpress.
Majority of Australians have already made the switch to digital superhighway in buying goods and services. Recent survey results from Australian Digital Economy E-commerce Trends and Statistics Report highlight the fact that people are increasingly buying goods and services online.
At the moment Australians still lag behind UK and US when it comes to online shopping. This means that there is great scope for start-up firms to build a strong base and capture untapped market.
eCommerce start-up firms stand to gain a lot from changing trends in the digital arena. Below we take a look at some of the upcoming trends that will change the way eCommerce is conducted down under.
Shift of Focus to Mobile eCommerce
Mobile eCommerce in Australia is going to increase in popularity in the coming years, Small business eCommerce retailers will be incorporating technologies that provides improved customer experience for mobile users. Some the technologies that is expected to make headway in Australia include NFC redeemable coupons, QR codes, and free Wi-Fi.
In addition, it will become increasingly important for eCommerce retailers to ensure that the shopping cart, online payment and layout are all optimised for mobile users.