The advance of internet technologies in the 21st century has changed the way business is conducted. With just a few clicks of the buttons, individuals can order products ranging from common household items to expensive electronic goods. The internet in a way has become a global marketplace that transcends boundaries allowing companies to offer goods to customers located anywhere in the world.
During the last few years, eCommerce has exploded in popularity in Australia. The country scores 4.5 on the Borderfree Index that offers attractive cross border market for online retailers. Demand for online consumer goods have been on the rise in the country due to increasing disposable incomes and low unemployment rates. Here we will take a look at some of the reasons Australia presents a gold mine for eCommerce start-up firms in earning above average profit on investment.
Limited Competition for Online Goods and Services
Unlike in other developed nations including the US and UK, Australian eCommerce landscape is marked with limited local competition and strong unions. This presents great opportunity for budding entrepreneurs to setup an online presence and earn great returns on investment.
Australian start-up eCommerce companies will not find great difficulty in capturing online market. With less competition, they do not have to keep the price too low to attract customers.