E-commerce: The Holy Grail of Retail
Look at the world around you. The conventional avenues to make money have almost disappeared, and businesses and consumers have moved online. E-commerce, the selling and buying of products and services over the internet, is the holy grail of retail today. E-commerce has grown to be the most popularly used term over the last decade. It has brought major blessings such as:
- Geographical location is no longer a barrier. Online platforms provide companies with access to a larger customer base, without having to incur financial and legal costs associated with opening a new store.
- Saving Time and Costs. Customers are no longer limited to or have to travel to their neighbourhood/city physical stores and can explore a myriad of options online based on their quality and taste.
- One of the most palpable by-products of e-commerce is Lower Costs concerning advertising and marketing, employment of staff, and buying real estate, which is in turn transferred to the customers in the form of discounts.
- More options, quicker product search and product comparison.
- No pushing around the shopping carts. Consumers can now dodge the crowded queues and have immediate billing.
- Night or Day, e-commerce websites run 24/7 providing high level of convenience and flexibility.
- Better Bargains, coupons and offers to avail on the most in-demand products. Spontaneous Purchases!
Now, whether you’re a shopaholic or love a bargain, considering the popularity of online shopping over the years, Australia has adopted a number of special big sale days, apart from holiday seasons, whereby hefty discounts and best deals are offered to the customers.
Biggest Shopping Events – Australia
Like every other year, Australia has plenty of sale events coming up in 2020 and a run-down of some of the biggest shopping events is given below.
Interestingly, in the past few years the events heavy month November has been recording higher amount of sales than the predominantly huge Christmas season in December. Pointing to the change in shopper’s behaviour since the advent of Black Friday.
The e-commerce industry is increasingly eating up the worldwide retail market and the global e-commerce sales experienced a growth of 13%, reaching a remarkable ~ USD 29 trillion while the number of online shoppers also rose by 12% to 1.3 billion in 2017 (~1/4 of the world’s population), as published by the United Nations Conference on Trade and Development (UNCTAD). Not only that, the proportion of shopper buying online from abroad also increased to 21% in 2017. The trend has continued over the years. This indicates that the cross-border business-to-consumer (B2C) sales have also been on the rise.
Purchasing powers of consumers is increasing and e-commerce companies are extensively leveraging digital marketing channels for promoting their businesses, making the role of companies involved in offering relevant services imperative.
Roolife Group Ltd – A key Player
In Australia’s thriving e-commerce landscape is Roolife Group Ltd (ASX: RLG), formerly known as OpenDNA Limited, powered by its hyper-personalisation Artificial Intelligence (AI) System. The company offers fully-integrated e-commerce, digital marketing and customer acquisition services to boost online sales for its clients, particularly those companies with Australia and China-focussed sales strategies.
Roolife Group is specifically focussed on enabling Australian businesses to sell directly to Chinese consumers, and process payments via the WeChat and Alipay mobile payments platforms in AUD or CNY (with the option of Mandarin-language).
China offers a huge e-commerce opportunity! First, the tourist traffic from China into Australia is huge. Second, online shoppers in China are estimated to go up and above 1 billion from 2019 onward vis-a-vis 587 million recorded in 2018. More so, the e-commerce industry in China has strong government support. Roolife is particularly eyeing opportunities in the high-demand lucrative market segments like Minerals, tourism, Supplements, Vitamins, Skincare, Health & Wellbeing as well as AI.
Besides, Chinese shoppers are quite receptive to sales and special promotions. More so, the shopping festivals in China occurring throughout the year, offer enticing opportunities to foreign businesses to achieve higher-sales revenue, gain brand recognition and market themselves.
China’s Biggest E-Shopping Festivals
- Chinese New Year – January to February
- Valentine’s Day –February 14
- Women’s Day –March 8
- Children’s Day – June 1
- 618 – June 18 (celebrates the foundation of JD.com)
- Wine Festival – September 1-9
- Alibaba Singles’ Day/Double Eleven – November 11
- Double Twelve – December 12
- Christmas Season – December 14-25
Stock Performance: Roolife Group Ltd has a market capitalisation of around AUD 11.58 million with ~ 340.62 million shares outstanding. On 10 January 2019, the RLG stock settled the day’s trade at AUD 0.034.
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