Is it too late to setup a ecommerce website for my business?

The answer to this is a very loud no – you can still setup a ecommerce website or improve your current website and have high expectations of it being successful.

Here are some observations on the current state of ecommerce in australia

Of the total amount of money being spent online in Australia around 80% will be spent locally – so despite lots of media coverage about how much Australians are spending on overseas websites the majority is spent here in Australia.

The Australian ecommerce market is around 5% of consumer spending in 2012 but it still lags the US and UK markets (around 7 to 8%) – it is still growing though and is expected to reach the same % as the US & UK within a few years.

It is estimated the total online sales in Australia for ecommerce will be around $37 billion in 2013 and in 2012 was around $32 billion – so growing at over 15%

Ecommerce is being driven by increasing demand from consumers, pressure from competitors, and a better understanding of the benefits of retailing via ecommerce. Even where the physical presence of the consumer is necessary, some elements of the sale can be handled more efficiently through online services.

So the potential of ecommerce in Australia has a large upside.

One of the main problems with ecommerce in Australia has been the lack of online retail ecommerce sites with a good offering. Many local businesses have been slower than their overseas counterparts to provide a comprehensive online offering.

We can see examples of this where some of the major retailers have been slow over the last 5 years in delivering a effect ecommerce solution. But they have started to make major improvements to their websites and their ecommerce marketing strategy and they are now reaping the benefits.

What does this mean for me – having a effective ecommerce strategy can deliver your business growth opportunities and more profit – this doesnt matter if you are online only or have physical stores as well. The potential is huge and it can be relatively quick to implement a new strategy and reap the benefits – there is a large advantage as well to becoming a significant online player in your segment of the market and your competiors may grab this space if you delay. Act today and reap the rewards.