It is not so long ago that Australian retailers were crying about the business lost to overseas online retailers who were able to take advantage of GST free sales. But it seems that it is Australian retailers who are reaping the benefits of the online boom.
The National Australia Bank has reported a 9% increase in its Online Retail Sales Index over last year and domestic sales are the dominant sector. Australian online retailers controlled nearly 75% of total online sales in January following a similar result in December.
We are going to speculate that the huge media outburst on GST free online sales by Australian retailers like Harvey Norman has worked in their favour as Australian consumers become aware of the issue and deliberately express their support by choosing Australian suppliers. Australian retailers also have a big advantage in delivery times of purchases.
The National Australia Bank points out the growth in online sales has slowed compared with earlier years, but growth is growth, and given the overall trends in retailing, online sales is definitely an avenue worth considering.
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