Australian shoppers flocking to overseas retailers
Nearly three-in-four Australian consumers are purchasing goods online from overseas retailers, with a further 93 per cent open to the idea of cross border shopping, new research reveals.
A survey of 1,000 Australians conducted by commerce marketing company Bronto Software found that the cross-border shopper market in Australia totals nearly 20 million local customers each week.
72 per cent of shoppers signalled better prices as the reason for looking overseas rather than at home, with unique merchandising enticing 68 per cent of respondents.
The largest overseas market is the United States, with 60 per cent of respondents indicating that they’ve made an online purchase from the US, followed by the UK at 39 per cent.
The figures are a signal that domestic online retailers may need to rethink their offering, according to Bronto Software’s Australian GM Shannon Ingrey.
“Australian retailers are no longer merely competing at a domestic level, but rather on a global stage,” he said. ““With more international retailers like Amazon eyeing Australian shores, threats do not come bigger than this – competition is only going to continue heating up.”
“The first and most crucial step is to focus on why consumers stray and work towards addressing them – as the findings suggest, that’s better pricing and unique merchandise.
“Retailers should also look to exploit the advantages of the home territory. To do so, ensure that all aspects of the transaction that impede cross-border shopping, such as shipping costs, delivery time and data security, are clearly addressed early on in the purchase journey,” Ingrey continued.