Ecommerce is the name given to the buying and selling of products and services by businesses or consumers over the Internet (or the World Wide Web).
The terms “ecommerce” and “online shopping” refer to the process whereby people are able to search, locate, order and pay for goods and services online. Consumers are increasingly taking advantage of ecommerce due to:
- lower prices are generally available as businesses don’t need to spend as much on renting a physical store front or office space. This massively reduces costs for ongoing expenses such as rent and electricity.
- the enormous convenience for customers of being able to search, pay for and have all your products and services delivered to the same address. There is no need to deal with crowds or travelling to a shop only to find that the item was just bought by the customer before you.
- online stores offer greater variety and range of inventory
- there are lots of comparison search engines and sites that compare and recommend products and give the best prices listed online
- access to online auction sites where consumers can decide on the maximum price they are willing to pay for a product or service
There have been significant increases in ecommerce spending in the last 4 years in both Australia and the rest of the developed world. This trend is set to continue as it becomes increasingly cost effective to conduct retail trade online compared to traditional retail shopfronts.
The recent BigCommerce.com report shows that Australian online shoppers are now a majority of the population. They also share a number of other insights into the ecommerce industry.
Australian highlights from the BigCommerce.com report
- Australia leads world with a 200% increase from 2010 to 2012 in the rate of online shoppers.
- Australian online shoppers spend more than anyone else in the world, on average, per order. $142 in 2013, up 20% from 2011.
- 48 percent of Australian e-commerce businesses are working well into the early morning hours. Australians are increasingly running internet ecommerce stores while working a 9 to 5 job.
If you sell products, then a sharp and clean ecommerce website design is vital to stay up to date with current consumer spending trends.