Online retailers grab bigger slice of holiday pie
It’s a very happy new year for Australia’s burgeoning online retail sector.
Following on from expectations that e-tailers will capture a bigger slice of the Boxing Day pie this year, industry analysts are forecasting a strong post-Christmas period for ecommerce across the country.
Leading online retailers stepped up competitive pressure on established retailers on Boxing Day this year, with new entrant Amazon joining the likes of Kogan and Catch Group with extensive end-of-year deals.
Amazon ran 40 per cent off fashion and a range of two-for-one deals on the Big Day, while some of its top-pick offers, including Lego kits, were cheaper then those on offer at Myer.
Catch.com.au slashed up to 80 per cent off TVs and appliances, as well as offering free shipping on a thousand of its top selling items.
All-in-all Australians are expected to have spent $2.38 billion on Boxing Day instore and online, which Australian Retailers Association executive director Russell Zimmerman has said is a conservative estimate.
Now attention is turning to post-Christmas sales, where online retailers are expected to clean up rather well, tipped to grabbing a record chunk of the projected $17.3 billion in spending between December 26 and January 15.
That’s the ARA and Roy Morgan’s estimate anyway, which if proven true would be a solid start to the year for the sector.
Zimmerman said online retail could grow to between 10-15 per cent of total retail sales this year, breaching double digits for the first time.