A considerable amount of companies in Australia rely on B2C transactions. Securing those sales is no matter of chance, with latest research from Forrester Consulting and FedEx finding that trust is the key to any retail success.
Brick and mortar stores remain an area of focus for many, but more consumers are switching their attention to online purchases. Eighty per cent of Australians make at least one e-commerce purchase every year while over half spend more than $100 annually, the research finds.
Customers concerned by overseas shipping
Despite more people than ever engaging in online business, building lasting relationships with consumers is still a balancing act, with some remaining sceptical.
For example, shipping concerns remain at the forefront of customers' minds, an issue which is compounded if the purchase is coming from overseas.
Australian enterprises should be aware of this when undertaking any strategic planning that involves expanding into foreign territories.
"The study highlights that consumers' trust in the overall shipping experience is key to winning online customers from other markets," explained Managing Director of FedEx Express Kim Garner in a PRWire release on February 10.
Forrester Consulting collated the findings from the experiences of over 9,000 online customers, while also interviewing 34 companies from markets across the globe.
E-commerce growth potential
"Business interviewees were asked about the factors leading to their decisions to start an international e-commerce business, their experiences and challenges with fulfilling such orders, and the factors that may enable them to expand this practice," the research explained.
Expansion is only possible if there's growth potential in the market. Fortunately, Australia will be well served in this regard in years to come.
According to figures from Statista, e-commerce across the country could be worth as much as $40 billion by 2016. Subsequently. businesses that are ready to adapt and – just as importantly – have trusting relationships established with their customer base will be the ones that prosper.