Have you wondered just how much computers, websites and social media are affected how we do business? This was a topic for discussion at the Council meeting. While Council response is confidential the startling facts aren't:
Facts about Australian consumers.
82% of all Australians looked for information on line
66% of all Australians shop on line
24% have purchased from overseas online
Half of all Australians have a smart phone
Facts on Australian Households
89% have a computer
87 % are internet enabled
10 % have a tablet/Ipad with 15% expected to buy in the next year
4% have purchases coupons
Deloittes Study – 5.5% of Australian spending was on line (2010 -2011) which represented 13.6 billion dollars in revenue
Online sales are growing at 9 to 10% pa
Consumers ability to search, find and buy is growing.
Greatest increase in on line activity was 30+
Facts on Australian businesses
Only 50% are using using it effectively
Only 6% of Australian businesses intend to install a web site next year.
18% of businesses use social media for business, most are on facebook
50% who had used social media said it had a positive impact on their business
90% maintained social media sites internally
50% of business who offered coupons got return business.
So what are the key issues traders face today?
There is a parallel shift going on with wholesalers now competing with the retailers they are supplying
interstate and overseas traders are competing in the same market place
highly informed customers
reduced relationships and loyalty
the try and don’t buy culture
negative reviews through social media
rents still increasing
increasing online competition and reduced foot traffic/sales
Retail is not just about foot traffic in store anymore. It’s about a whole new business model.
Position! Position! Is not necessarily number one anymore as traders have the potential to buy in one country and sell in another.