Tuesday, May 8, 2012, 12:01 PM
In the first of a two-part series, Euromonitor International analyst Bettina Kurnik discusses the boom in online retailing in Australia - and the reasons behind the inactivity that previously characterised the channel.
While bricks-and-mortar apparel retailers and department stores report problems getting consumers to part with their hard-earned cash, Australian consumers are embracing online apparel shopping in their droves,Vibram FiveFingers kso, flocking to domestic and international shopping sites alike for that special blend of shop-around-the-clock convenience, price and availability that only internet retail can offer.
Internet retailing hits full stride after tentative first steps
Australian consumers have been relatively slow to catch on to the online shopping trend, with many observers noting the lag behind overseas trends, in particular those emanating from more established digital retail markets such as the UK, the US, Germany and France.
Euromonitor International figures reveal, for example,Vibram FiveFingers sprint, that in 2008 some 3% of apparel purchases in Australia were made over the internet, in comparison with 5-6% for the aforementioned international markets. In 2011, this figure had risen to 5% for Australia and as high as 9% for the UK and 8% for France.
The recent adoption of e-commerce,vibram fivefingers, m-commerce and even f-commerce platforms by Australian shoppers indicates the overwhelming consumer demand for retail solutions adapted to changing consumer preferences.