The online retail space faced a rollercoaster ride during the pandemic.
According to the Australian Bureau of Statistics (ABS), original online eCommerce sales saw three major peaks since February 2020.
The first hit $3.6 billion in November 2020, then $4.4 billion in September 2021, and finally $4.7 billion in November 2022. In original terms, its latest figure sits at $3.2 billion in February 2023.
It goes without saying that the last few years were a disruptive period for the sector, particularly for brands cycling high inventories, shifting consumer behaviours, and now the rising cost of living.
Despite these challenges, many online retailers in Australia discovered tech-savvy ways to entice consumers - from experiential apps and the launch of new digital divisions to ventures into the metaverse.
All has been taken into consideration for Ragtrader’s 2023 Tech 20 list, which uncovers the movers and shakers in the digital fashion space.
CLICK HERE FOR THE TECH 20 LIST.
The list is sponsored by multi-carrier shipping software company Shippit.