Australia is a great option if you're looking to start an eCommerce business. The country offers plenty of opportunities for entrepreneurs, and its economy is growing rapidly.
“According to the IMF, the Australian economy will grow by 2.5 per cent in 2019, which is faster than most other developed countries.”
The Australian eCommerce market is also expected to grow at a rapid rate over the next few years. Statista predicts that online sales will reach $40 billion by 2021 — an increase of nearly 40 per cent from 2018 levels.
So how does one go about starting an eCommerce business in Australia? Here's a comprehensive guide that should answer all your questions:
The first step in starting an eCommerce business is choosing your niche. This is important because it will determine what products you sell and the type of customers that buy them. It will also help inform other decisions, such as marketing strategies and pricing models.
For example, if you're selling clothing, then there are many niches within that category, such as shoes or accessories. If you're selling sports equipment, then there are many niches within that category, such as golf clubs or surfboards.
Before starting your online store, you need to register your business name. This is important as it will identify your business and make it unique. You can register your business name with ASIC here. If you want to register a business name already registered by someone else, you will need to go through the Trademarks Office.
As soon as you have a product or service to sell, the next step is to set up your e-commerce website. There are many options available for setting up an online store, and choosing the right one for your needs can be difficult.
Here's how to choose the right platform for your business:
If you're building an eCommerce website in Australia, you need to get an AU domain name and hosting.
You can buy these two things separately, but it's usually cheaper to buy them together. Hosting means that the company provides space on its servers (computers) for your website files.
A domain name is the name of your website, such as www.yourstore.com. It's like a phone number for your business — without it, people can't find you online!
Creating your product listing pages is an important step in creating a successful eCommerce store. These pages are where you'll describe your products, highlight their features and benefits and include images of them as well.
Your product listing pages are also where you'll be able to add information like product specifications, size charts, and other details that help customers know exactly what they're buying.
Selecting the right payment methods and gateways for your eCommerce website is important. The most common payment methods are credit cards, PayPal and cash on delivery. There are many others as well, such as bank transfers and money orders.
A good rule of thumb is only to include the most popular payment methods on your website. If a customer can't pay with the preferred method, then they will likely close the tab and try another website instead.
Key performance indicators are the metrics that measure your store's performance and help you understand how successful it is. Your KPIs will depend on what your goals are with your store, but some general categories apply to most stores:
Sales: How much money is coming in?
Customer satisfaction: How happy are customers with their purchases?
Customer retention: How many customers do you keep coming back for more?
At Digiwhiz, we offer a range of services to help you grow your eCommerce business. We understand that every detail matters when it comes to your online store. That's why we work with you closely to ensure that all aspects of your website are designed according to your needs.
We have been helping businesses in Australia develop their online presence for the past 8 years, and we pride ourselves on our ability to deliver results for our clients.
We're experts at what we do, and our team is always on hand to answer any questions or queries you may have.
If you want to start an eCommerce business or improve your existing website, get in touch with us today.
This guide aims to help entrepreneurs and small business owners who have a great idea and want to start an eCommerce business but are unsure about how to get started. If you've ever had any doubts about starting your own business from scratch, we hope that after reading this comprehensive guide, you're better informed about how it's possible to start up an eCommerce business in Australia, such as what you need to do when getting started, the expenses involved and where you can find a great location for your new business. We hope that before finishing this guide, you will be well on your way to becoming a successful entrepreneur.