According to the survey, which was called the Australian and New Zealand Online Shopping Report: “Retailers must rethink strategy, particularly (the) role of real estate and stores.”
Online spending is expected to reach $16 billion in 2012, for an increase of 17.9%. Growth is conservatively projected to continue at a compound rate of 14.1%. Shoppers are making online purchases offshore, too, with 45% of Australian online spending going out of the country. That works out to $7.2 billion that Australians are spending with businesses not located in Australia.
In the past, many companies have asked, “Should I spend my time and money on eCommerce?” According to Oracle Digital, that question has now changed, and business owners should all ask themselves, “How much time should I spend on eCommerce, and how do I maximise my online revenue?”
A factor that the survey didn’t take into account is that, even though a lot of shopping is still done in bricks and mortar locations, a lot of the decisions shoppers make before they decide to go to a store are made online. There is no research available on how many decisions are made online, but many insiders feel that as many as 80% of all shopping decisions are made online.
For example, many business buying decisions are handed over to an employee who is told to go online, “do research,” and give a report of products and prices to the boss. If that employee is looking for a widget, he or she will enter “widget” into a search engine and see what appears. Usually, that employee is going to find something on the first page that is interesting. The same process happens with personal shopping.
Clint Maher, Director of Operations for Oracle Digital, offers some tips for business owners looking to increase their online presence: “The most important thing is to have your website. If you don’t have a website, any other advice is moot. But the next most important thing that you must do is make sure that people see your website when they type your search terms into a search engine.”
Maher continued, “Web marketing strategies are mandatory for any business that wants to be noticed, and the best way to make sure that your customers find you first is to define exactly who your customers are. What sites do they visit online? Do they prefer search engines or social media to help them make decisions? What is your unique offer? How is it giving your customer exactly what he or she is looking for?”
Maher concluded, “At Oracle Digital, we know what questions to ask. We know how to make sure that your message reaches your customers. If you want to make money in any business, large or small, you simply cannot afford to neglect your online presence. You are leaving too much money on the table.”
Oracle Digital is a web marketing company from Perth, Western Australia. Their digital marketing specialists can help you maximise your online presence through solid, integrated, and modern techniques. For more information, check out their website:http://www.oracledigital.com.au/