Ecommerce is heating up worldwide and the Gold Coast is no exception. Gold Coast eCommerce stores are popping up from businesses that previously sold in brick and mortar stores only and they are seeing a resurgence in sales.
Read on to find out why you should be investing in an online store.
ECommerce Is Growing
Each year emarketer.com releases a study on the growth of ecommerce worldwide and the projected growth figures. In 2013, Australia saw online retail sales make up 3.6% of all retail sales and this has continued to grow with the projected figure in 2018 to be 5.6%.
When talking billions of dollars in sales, a 2% increase is millions of dollars extra spent buying goods online.
Store Implementation Is Easy
Thanks to platforms like Magento, you can get a store set up without an existing website in just a few hours. As the software behind the technology continues to evolve, the customisations you can make for your store is getting better and it only takes a few clicks of a button to get the products looking like you want too.
Shop Rents Are Becoming Unaffordable/Online Stores Are Affordable
Commercial property prices seem to be increasing year upon year, putting a strain on businesses knowing overheads have to be paid.
An online store requires a monthly subscription in most cases and even with hosting you are often paying less than $100/month for your online store.
The Brick And Mortar Experience is Evolving
Borders was thriving just a decade or so ago as one of the world’s largest book retailers. Amazon then came along and shook up the book buying industry and Borders went bankrupt. Many bookshops are now integrating cafes into their stores to enhance the book buying experience.
Coming up with the right solution is not easy for all brick and mortar businesses, you simply need to get online to survive.
Your Competitors Are Taking Action
If you have competitors who are jumping into the eCommerce stores in droves, there must be a legitimate reason. Competition is not always a bad thing, even if you are slightly late there is likely room for you to still gain a good portion of the online sales in your niche.
Running a business is never easy and keeping up with buyer behaviour is vital for survival. Businesses are transitioning to eCommerce every day, the longer you leave it the more of your direct competitors are going to get in ahead of you. This includes the Gold Coast, eCommerce is not immune to any city whether it thrives on tourism shopping or not.