The rise of the online shop is a retail revolution. As a result, over the last couple of decades, we’ve witnessed the demise of many iconic high street brands. Globally, F.W. Woolworth, Sears, and Kodak, to name a few, have all disappeared despite appearing to be immutable pillars of our society. So, what went wrong? With hindsight, it’s clear these brands, and many others failed to recognise and react to the changing retail landscape. In essence, it’s only those that have adapted that are seeing healthy increases in both customer base and sales.
Let’s have a look at a few of the Australian online shop successes.
Here are the Top 5 Aussie Retailers finding Success Online
1. JB Hi-Fi
JB Hi-Fi is a great example of an Aussie retailer adapting with the times. They were an early adopter of the online shop paradigm and it’s paying dividends. Accordingly, profits were up 35% during 2018 and with 203 stores across Australia and NZ, they are now the 7th largest electronics chain in the world. Similarly, online sales were up 32% from 2017.
2. The Iconic
The Iconic is Australia’s number 1 fashion and online clothing store. In fact, they achieved this after just 18 months of trading! Started in 2011, they now achieve over 10 million unique visitors to their site every month. Consequently, turnover is being forecast at over $1 billion in the next 3 years.
3. Dan Murphy’s
Dan Murphy’s is Australia’s booze behemoth. Dominating the packaged alcohol market with an incredible 55% of the market share, Dan’s continues to increase profits and market penetration year on year. In fact, online sales are increasing at a rate 3 times faster than store increases.
From humble beginnings in 2006, Kogan has become a half-billion a year success story. Essentially, Kogan specialises in electronics such as re-branded TV’s but they’ve also diversified into fashion and health products. Consequently, this savvy online retailer has grown its profits by over 40% in 2018.
5. Catch of the Day
E-commerce giants Catch of the Day have grown quickly since their online shop start-up in 2008. In part, by utilising clever digital marketing and robust Social Media Marketing (they currently have over 900k followers on Facebook), Catch are enjoying a turnover of around $350k.