Frost & Sullivan and PWC released their latest piece of media thought leadership last week – the Australian and New Zealand online shopping market and digital insights.
If you are into this sort of thing, the document is choc-full of great facts which will be useful in driving a business case to support the delivery of an online retail offering in your business!
Key findings include:
- Online shopping expenditure in New Zealand to reach $3.19 billion, a growth of 19% from the $2.68 billion expenditure in 2011
- New Zealand online shopping expenditure is predicted to be worth $5.37 billion by 2016, with a Compound Annual Growth Rate (CAGR) of 14.3%
- This growth is likely to be stimulated by a number of factors including:
- the entry of more online retailers
- an increasing number of manufacturers going direct to consumer
- product and service expansion by current online retailers and pure plays
- continual growth in consumers using mobile devices to browse and purchase products anywhere, any time and any device.
- In 2012, 1.9 million New Zealanders aged over 15 will make online shopping purchases
- Retail categories predicted to display the strongest growth over the next five years are the:
- clothing
- footwear
- jewellery
- fashion accessories
The full report can be downloaded here
In our experience, we are seeing a couple of things happening. For those clients who are making investments in online retail/service delivery channels, they are being handsomely rewarded by their consumers (often becoming their biggest channel to market in quick time). Secondly, mobile – especially tablets is sending online retail into overdrive! People with iPads or other tablets are starting to ramp up the retail market to the point where we at ZO feel some of these projections might be a little conservative.
