Australian internet retailers are making hay while the sun casts shadows on their high street cousins, according to eBay Australia.
In its annual survey, eBay's Online Business Index (OBI), research revealed that ebay’s top 2000 sellers experienced 45 per cent revenue growth in the last year with around 160 Australian businesses reaching $1 million in sales in 2011, up 31 per cent from the previous year.
Mobile commerce is emerging as the next significant revenue stimulus with 72 per cent of the top 3000 eBay sellers claiming it will play an important role in their 2012 business strategy, but just over a quarter said they don’t know how to leverage the opportunity and an alarming 40 per cent admitted to not having the knowledge to make informed mobile investments.
Deborah Sharkey, eBay vice president, warned that all retailers online and off had to innovate, adapt and integrate multi-channel business models to stay ahead of their competitors.
“In 2012, e-commerce and increasingly mobile commerce will continue to drive retail growth. There is great opportunity for Australian businesses to invest in innovative mobile solutions to reach the new mobile consumer,” she said. The biggest hurdles to business growth for online retailers includes international competition, the state of the global economy and postage costs cited as the biggest issues for Australian busineses.