First introduced to the internet in 1999, online shopping has rapidly become a worldwide phenonomon. Consumers are no longer purely searching for goods and services at their local bricks-and-mortar stores. Rather, they are tapping into the online resource of abundant product information available on the internet.
Market research shows that buyers are sampling products in-store, before turning to the internet to buy the actual good or service. Consumers can search for better deals, with a wider range of choice available to them, all for the comfort in their own home.
Favourable interest rates in certain countries and the recent economic climate have propelled the rapid growth of global e-commerce. In Australia, the Australian Dollar has gone from strength to strength against the US Dollar, resulting in an increased demand for international goods and services. While many online retailers are languishing in sky-rocket profits and market share, many physical store sellers are struggling to compete.
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