“95% of everything bought & sold in Australia is NOT sold online.” – zen10

Retail spending is growing at a rate of 26% per annum, compared with traditional retail sales growth of 1.7%.  This may lead you to think that online sales is causing the demise of traditional bricks and mortar retail spending – but you’d be wrong. (ref 1)

In 2011 Australia’s total online spending was approximately 10.9 Billion, but note this accounts for only 4.9% of total retail sales. (ref 2)

So before you have visions of making your next million online, remember that you might be neglecting 95% of possible revenue by not targeting sales offline as well.

The big opportunity is that the 4.9% of online retail is set to potentially increase to 10% by 2015.  The decision looming for  most business owners is not wether to go with e-commerce or bricks and mortar  but when to add  online sales to enhance the bottom line of their existing business model.

If you want to be part of a growing industry, start selling online.