Industry Analysis & Industry Trends
Online retailing has changed the face of the Australian Retail Trade division, representing a paradigm shift in the way consumers make transactions. The industry has grown dramatically over the past five years, to become part of the mainstream Retail Trade division. The rise of online shopping has been aided by the rapid growth in internet and broadband penetration, combined with consumer acceptance of electronic commerce as a viable and safe alternative to traditional bricks-and-mortar retailing.
The industry has benefited from consumers seeking variety and value, particularly as discretionary spending and overall consumer sentiment have been relatively weak. Online shopping offers unprecedented choice, as there are no geographical boundaries and prices are highly competitive... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Online Shopping industry is in the growth stage of its life cycle. Over the 10 years through 2020-21, industry value added is expected to increase by an annualised 10.2%, compared with real GDP growth of 2.6% annualised over the same period. This suggests that the industry is growing at a significantly faster rate than the Australian economy.
Strong consumer demand and an increase in the number of goods available online have characterised the growth phase of the industry. The relatively untapped potential of online retailing has encouraged a large number of new entrants, with the number of online stores increasing by an annualised 9.0% over the past five years... purchase to read more