2017 has been a year of ‘digital disruption’, where technology has continued to present both challenges and opportunities for almost every industry from transportation and hospitality, to finance and health.
And retail has not been immune.
Artificial intelligence, voice recognition, virtual reality and the Internet of Things (IoT) have all had a huge impact on both bricks and mortar and ecommerce retailers. Hyper-connected consumers can now research, try, buy and return products from their mobile devices in just a few clicks, no matter where they are in the world. A customer can be shopping in your store, use their mobile phone to compare your product online, have their questions answered by a virtual sales assistant or a chatbot, and have purchased the product from a competitor before they’ve even stepped outside of your doors.
We analysed data from 1,000 Neto retailers across a range of industries in conjunction with results from our survey with Telstra of 1,001 Australian shoppers to bring you The State of Ecommerce Report: The Changing Face of Retail in Australia.
The report charts the transformation of ecommerce over the past year, revealing that Australians' preferences, expectations and shopping habits are changing. Yet although we are spending more time online and more money online, this doesn't spell the demise of the bricks and mortar store, instead -
Consumers expect a seamless and personalised experience across all retail channels, and it’s up to retailers to adapt, and adapt fast.
Here's a few of the highlights, download the full report for more.
- 25.1% of shoppers purchase online one or more times per week
- $132 is average basket size value for online purchases
- Buy Now, Pay Later transactions have grown by 147%
- Marketplaces (eBay, Etsy, Amazon) are the most popular channel to buy on
- Fastest growing industry - Gifting
- Highest monthly sales - Gifting
- Highest average basket value - Tools and Hardware
- Most frequent online purchase - Fashion
- NSW spends 30% more online per transaction than Victoria
- QLD spends almost double online per transaction in tools than NSW
- ACT leads QLD in average eBay sales value