Online economy booming, with eBay top of the Aussie list
ONLINE selling is booming in Australia, with eBay the best place to attract buyers. But there are important secrets to success.
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ONLINE selling is booming in Australia and small business owners are rushing to get on board, with eBay revealed as the best place to attract buyers.
A new report by research firm Hitwise and international money transfer company OFX revealed Australian eCommerce sales have grown at 8 per cent annually in recent times, from $17 billion worth in 2014 to $22 billion last year.
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And growth is set to continue, as Australian households spend 10 hours online each day, with shopping a major activity, according to OFX eCommerce and partnerships manager Ed Wiley.
“The Australian and global retail market is continuing to see an increase in online and mobile sales, in particular over store purchases,” Mr Wiley said. “With the rise of smartphones, consumers now have easy access to shop on the go via their mobile.”
The data revealed eBay.com.au was the most visited Australian site with around 24 million weekly hits, while gumtree.com.au was next best with around 15 million. Other popular sites including harveynorman.com.au, kmart.com.au and target.com.au ranged between 3 and 5 million weekly visits.
Gaining an advantage by launching first, in 1999, eBay has achieved lasting success by evolving.
“They have changed considerably since launching,” Mr Wiley said, noting the move away from auction based bidding to instant buy and partnering with household brands like Kathmandu and Chemist Warehouse.
“They have been quick to adapt and evolve with the market and that is what’s needed to survive in today’s retail environment.”
Mr Wiley said small business owners looking to get a piece of the eBay marketplace should ensure their website looked professional, with good page load speed and a clear “About Us” section to showcase legitimacy, while avoiding pop-ups that appear as soon as a user arrives at the site, or when they are paying and checking out.
Former fashion blogger Isabel Zheng discovered online selling after clearing out her wardrobe. She had quick sales success and began a side project helping others list and sell products online. She said images were the first key to eBay selling success.
“Your buyers won’t be able to see and feel the items in person,” Ms Zheng said. “Photograph your inventory under natural light (to) bring out the colours and textures … include at least one photo of a card with your name as proof you’ve actually got the item.”
When selling used items, Ms Zheng said it’s wise to fix them up as best as possible before selling, be honest about flaws and realistic about pricing.
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“Try to find similar items on the market to calculate the prices people are willing to pay,” she said.
She added sellers should use free metrics tools to track performance and identify popular listings; and be savvy when moving money.
“If you have international buyers, you might have a range of different currencies sitting in your seller account,” Ms Zheng said. “When converting back to AUD it can be good to use the services of a currency specialist to secure the best exchange rates and save on transfer fees.”