By Paul Hayes
SYDNEY, NSW: Many of Australia’s traditional bricks-and-mortar retailers are missing out on the online retail bonanza, with a new report revealing that most of the revenue from local online sales is funnelling overseas.
According to 36.8 per cent of web retailers who responded to the recent US-based Internet Retailer survey, Australia ranks in their top three markets for generating web sales outside of the US, but those same retailers admitted to winning this business without specifically catering to international shoppers.
As more and more consumers are doing their shopping online, Australian retailers need look at what they can do to attract the customers whose money is going overseas, said head of e-commerce for Bing Lee, Peter Krideras.
“The delay in Australian retailers embracing selling online has made it easy for overseas ventures to tap into the Australian market.
“The quicker Australian organisations embrace the power of the web, the quicker we can capture this growing market … before we lose more money overseas.”
Online Retailer Expo and Conference managing director, Mark Harvey, believes the future is now for online sales and Australian retailers need to adjust their business models accordingly.
“A whole new generation of consumers have taken control and are changing the game for the retail industry.
“With access to a wealth of information online, customers are speaking to us loud and clear by putting their credit cards on the line and transacting.”