What to Import? New Products Ideas – Assess Online Markets
- More variety of imported products are now being purchased online, so there are increasingly opportunities for new product sectors that are currently bought walk in retail
- Early technology users buy more online, and spend more online – technology products are always fast movers online, so new technologies are great for launching product specific online stores, selling retail, but also selling wholesale online and offline
- More diverse groups of people buying online – possibly older people are buying online due to convenience and price, opening up new product markets for 45+ age group
Roy Morgan Research helps with Deciding What to Import
In Australia, the online retail market is continuing to grow rapidly, and take market share from traditional walk in retail sector. In the year to June 2012, online sales are up a massive 14.2% to $22.8 billion, this is roughly now 9% of total retails sales are online sales.
The survey by Roy Morgan found that almost 33%, or one third of Australians buy online every four weeks – with more than half of Australians saying they have bought something online.
In Australia, almost one third (33%) of people buy online over an average four week period, and more than half (almost 57%) have bought something online. Seven years ago only 30% of people had bought online.
Read more about Roy Morgan research for online shopping trends
by Craig Ford What to Import? Online markets moving
My Import Label What to import and sell for your import business