A recent report has revealed Australian online retailer's plans for aggressive expansion in the areas of product range, technology and teams in 2017.
According to the inaugural Q1 E-commerce Performance Indicators and Confidence Report (EPIC) from SLI Systems, 92% of online retailers plan to grow their product range this quarter.
A further 62% of online retailers planned to invest in new technologies and team expansion, while 31% said they would look to add additional websites and brands.
However, concerns still remain for online retailers who fear the entry of Amazon into the Australian market, with nearly half of the respondents expressing concern around Amazon’s imminent arrival.
SLI Systems regional vice president APAC Joe Thymian said it was an encouraging sign to see Australia retailers tackling international competition.
“It is encouraging that local retailers aren’t afraid to tackle the challenges of international competition and rising consumer expectations head on.
“While the e-commerce market in Australia has grown significantly over the past five years, it still only accounts for a small proportion of traditional bricks-and-mortar sales, and remains ripe for further growth.
“Those investing in their e-commerce presence now will lay firm foundations for future success.”