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The Digital Business Kit for Retailers

Learning Outcomes

Retailers will understand the different technology and strategies that can assist their retail businesses to begin or improve selling their products and/or services online. [printfriendly]

mod-arrow Why Sell Online?

There are many good reasons for selling your products or services online. Most importantly, Selling Online increases your market reach and creates opportunities to increase your overall sales revenues. This section explores the opportunities and challenges of Selling Online. There are numerous reasons for adopting online sales strategies, ranging from increasing market reach to adding new products, to gaining competitive advantage and more.

The BIG reason

The world of research, review, sharing, and buying is increasingly moving to online. Allowing for online sales captures this market shift. Studies have demonstrated a much higher rate of return on investment in online search-based marketing compared to traditional “outbound” marketing and sales. The customers are already converted, they want the product, they just need to decide who to buy it from and will spend the time to research the best options online. If your retail company is not online, you will miss this entire market-share and opportunity to optimise marketing, sales and business operations.

Over seven in ten Australians reported making purchases online, with Australians aged in their 30′s, again, most likely to report online purchasing (88 per cent). Females were slightly more likely to report purchasing online (72 per cent, compared to 70 per cent for males). The Australian Capital Territory reported the highest proportion of Australians purchasing online (74 per cent), with residents of Queensland and South Australia the least likely to do so (68 per cent). (Source: Sensis e-Business Report 2012).

In addition to accessing a global marketplace, your website, enabled for online sales, can take orders and process purchases 24/7, 365 days per year from virtually anywhere in the world. (Source: Bringing brands and customers closer together, Experian Australia).