In 2018, online spend in Australia reached a 10% share of total retail sales. Over the past few decades, we have seen connectivity grow and an incline of people flock to online marketplaces to find their favourite products and services. So many diverse industries are capitalising on the growth opportunities that come with Internet connectivity, and with the rise of the eCommerce industry, there has never been a better time to grow your business.
With approximately 87% (21.74m) of Australians actively browsing, it’s easy to understand why online stores are proving to be a scalable growth avenue for so many big businesses. With lower staffing and store overheads coupled with 24/7 access to live customer data and behaviours, eCommerce business models allow for a more strategic and cost-effective approach to sales.
In 2018, sneaker giant, Adidas, launched its official app store, which subsequently went on to record more than 7 million downloads across 25 countries. This bold move catapulted global sales, helping the brand exceed analyst’s predicted annual net profit by €20 million, raking in a staggering €108 million globally. With lower overheads and ‘Direct-To-Consumer’ connectivity, Adidas’ eCommerce platform grew by 36%, helping the business steal valuable market share from major competitor, Nike’s Jordans.
Made clear through Adidas’ macro case study, the core purpose of eCommerce is quite simple and effective. In essence, eCommerce is a direct-to-consumer sales medium built to close the gap between consumer demands and your brand, allowing for an easy and accessible path to your check out cart.
Closer to home, Australia’s biggest and fastest-growing online fashion retailer, Showpo is using its eCommerce platform to continue rapid growth and company expansion. In FY18, the fashion category had year-on-year growth of 20.4%. With continued growth and high sales, Showpo has doubled its 2017 turnover to $85 million in revenue.
Make your eCommerce Business A Success
Whether you’re a large multi-national, or a smaller locally-based company, having an active platform is only half the battle. There are so many external online components you now need to consider to run a successful eCommerce business, and if you’re running on the NBN, let us tell you, you’re “going to need a bigger boat”…. And of course, by a bigger boat, we mean bloody fast Internet.
Expect to be relying on symmetrical download and precious upload speeds for:
- Uploading creative assets (e.g photographs, videos and images) and content to your website
Current average Australian upload speed is 14.17Mbps (As of 20.5.2019) … You’re going to need a lot more than this.
- Downloading your ecommerce platform’s online analytics and reporting
Australia has currently dropped to 59th (As of May 2019) for global download speeds.
- Running digital marketing campaigns to drive more platform traffic
From social media advertising and eDMs, to digital banners, you’ll need the capacity to upload high resolution ads quickly and efficiently.
- Storing all of your business documents
Many businesses are moving their document storage away from servers to the cloud. It’s a way to avoid high capital expenditure, improve collaboration and allow for scalability and flexibility.
- Running all of your accounts software
Online accounting software like Xero and MYOB, help businesses tackle their financials at the touch of a button.
It’s a demanding process, but if you can nail your platform content like the above examples, you’ll be driving sales like there’s no tomorrow.
If you’re looking to take your eCommerce platform and business to the next level, you’ll need a super-fast Internet provider to help you get there. Our Sky-Speed symmetrical business Internet can help you reach your goals. Find out more here