Half of Australian retail brands believe the industry has become more competitive with international entrants taking the market share, according to a survey by SLI Systems.
The survey determined the trends, challenges and opportunities online retailers expect to face over the coming year. The survey was conducted during the SLI Connect event, on the 31st March in Sydney.
The results of the survey showed that more than 95 percent of retailers consider e-commerce to be the most effective channel for sales conversion, while just 46 percent selected bricks and mortar stores.
This growing fear of international competition has led retailers to implement a number of changes to their e-commerce strategies in the challenging retail environment:
- 67 percent have optimised their site for mobile and tablet
- 50 percent have upgraded their e-commerce platform
- 38 percent have offered free shipping
- 21 per cent have started selling internationally
Mark Brixton, regional vice president, SLI Systems said, “The results show local retailers are concerned by the increased willingness of Australian shoppers to interact with international retailers.
“Successful retailers can offer the customer the same value, benefits and service options whether they’re shopping on a PC, in-store or on their mobile. International retailers are already doing a great job at this; the local brands that get this right will make a compelling case for Australians to shop closer to home.”
Duncan Brett, general manager eCommerce, Bras N Things commented on the research findings: “Your bricks and mortar store and your online store should be a joint force and not another source of competition. The integration of the online and offline customer experience is fundamental to our business. In order to remain competitive, we focus on creating a seamless and positive customer experience. The survey results show we’re not the only ones.”
